Thursday 20 March 2025 11:49 GMT

Arctic LNG 2 Deal Could Underwrite US-Russia Detente


(MENAFN- Asia Times) Bloomberg reported on March 18 that“Russia Is Wooing Arctic gas Buyers With Life After US Sanctions .”

The report cited unnamed sources saying that Novatek, the company behind the Arctic LNG 2 megaproject, is courting American, European and even Indian buyers ahead of trump possibly curtailing or lifting sanctions on the energy initiative as part of the nascent Russian –US “New Detente .”

Significantly, a senior executive cited in the story pitched this as“a way to counter a rising China.”

From those three potential clients' perspectives, all three of which have troubled ties with China, whatever they might buy from Arctic LNG 2 would reduce the amount available to Beijing.

There's also the chance that they elbow China out of the megaproject entirely if they collectively replace its lost investments after private Chinese companies pulled out of Arctic LNG 2 due to American sanctions. This could prospectively be achieved if Japan and South Korea, which have similar interests, get involved too.

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