Posted on by

Omens of Decline for Russia’s Once World-Leading Energy Industry



Share

It was to be a hugely ambitious project on the frigid Gulf of Ob, in Russia’s Far North, a steppingstone in Moscow’s rising ambitions to be a power in liquefied natural gas much as it is in oil and gas delivered by pipeline.When President Vladimir V. Putin of Russia launched his war on Ukraine, the $21 billion project known as Arctic LNG 2 was well underway with dozens of wells drilled, an airport built and most of the equipment ordered.Now, though, European Union sanctions that prohibit the sale of gas liquefaction equipment to Russia have thrown the giant complex into doubt. The sanctions mean, at best, that just one of three planned liquefaction facilities at Arctic LNG is l …

Read More