Russia's Arctic LNG 2 Sets New Production Records, Boosts Exports to China
Russia's Arctic LNG 2 project, led by Novatek, has set new production records and expanded exports to China, despite seasonal shipping constraints.
The project, operational since December 2023, has seen its output soar. In September, it achieved an average daily production of 17.9 million cubic meters, a 14% increase from its previous peak in August. This surge in production has enabled the project to significantly boost its exports to China.
Since mid-August, the project has been exporting LNG to China, with several shipments already delivered. The first cargo arrived in early September, marking a significant milestone in the project's international trade. To date, seven tankers have been unloaded at the Beihai terminal in southern China, demonstrating the growing demand for Russian LNG in the Asian market.
Despite the restriction of direct shipments from the Arctic to Asia to summer and early autumn due to the limited availability of Arc7-class icebreaking tankers, the project has managed to maintain a steady export pace. This is partly due to the project's strategic location and Russia's ongoing efforts to diversify its energy exports.
The Arctic LNG 2 project, under Russian ownership and primarily operated by Novatek, has demonstrated remarkable growth in production and exports to China. Despite seasonal shipping constraints, the project has successfully delivered several LNG cargoes to China, with seven tankers unloaded at the Beihai terminal since late August. This expansion in trade reflects the project's significant contribution to Russia's energy exports and the growing demand for LNG in the Asian market.
Read also:
- Planned construction of enclosures within Görlitzer Park faces delays
- Controversy resurfaces following the elimination of diesel filter systems at Neckartor: A renewed conflict over the diesel restriction policy
- Foreign financial aid for German citizens residing abroad persists
- Following the fatal accident on Canal Street in Chinatown, New York City initiates long- desired safety enhancements.
