Sanctions against Arctic LNG-2 may deprive Novatek of 4% of market

Deputy Head of the National Energy Security Fund Alexei Grivach estimated the potential of Arctic LNG-2 at 3-4% of the entire global LNG market. Under the U.S. sanctions, under which the project came under on November 2, Novatek may lose this market share. However, how successful the sanctions will be depends on the buying countries. For example, Japan does not intend to leave the project and will try to get an exemption from the sanctions regime.