The sanctions imposed against the Russian Arctic LNG-2 project will not achieve their goal

The United States is introducing a ban on the supply of Russian liquefied natural gas as part of the Arctic LNG-2 project, which claims 3-4 percent of the global liquefied methane market. Let us remind you that the first line of the gas pipeline is planned to be put into operation by the end of this year, and the shipment of hydrocarbons is scheduled for 2024.

Expert Pravda. ru, Head of the Laboratory of Forecasting of the Fuel and Energy Complex of the Institute of Economic Forecasting of the Russian Academy of Sciences Valery Semikashev explained how sanctions will affect the implementation of the project within Russia and on external consumers of domestic gas.

“In my opinion, there will be no greater significant effect for our economy – the introduction of these sanctions. And the Europeans, if they agree on a ban on the purchase of Russian liquefied natural gas under this project, then in 3-5 years they will overpay an amount of several billion if they are supported and not will buy, they will be from several billion to 20-30 billion euros.

I think that in Europe at least some managers and politicians have begun to consider the pros and cons of sanctions. In the case of Russian gas, the score is simple: less Russian gas means more American gas. Less competition among suppliers means higher prices for buyers. That is, such sanctions will cause damage specifically to the European economy. Accordingly, if such sanctions are introduced, it means that politicians in Europe are still not independent,” Semikashev believes.

From sanctions to threats: the United States intends to “STIFLE” the Arctic LNG-2 Project

Author Irina Malova

Irina Malova – journalist, correspondent-interviewer for Pravda.Ru

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