HomeMediaLatest NewsRussian LNG will be protected from sanctions for at least 2 years more

Russian LNG will be protected from sanctions for at least 2 years more

19 September 2023

Belogoryev Alexey M. Research and Development Director, Director of the Center for Energy strategic analysis and forecasting

Alexey Belogoryev, Research and Development Director of the Institute for Energy and Finance, commented on the sanctions risks for the Russian LNG exports to InfoTEK.

Introducting new Western sanctions against the Russian LNG industry, which would limit supplies, is now unlikely. Alexey Belogoryev shared with InfoTEC the opinion that in the next 2 years the industry is protected from such restrictions, but from 2026 such measures from the EU are already possible.

The expert noted that the very organizational scheme of Yamal LNG and Arctic LNG-2, in addition to distributing the financial burden and investment risks, implies providing access to sales markets.

Nevertheless, the risks of imposing sanctions on the Russian LNG industry still exist, but in 2026.

"These risks are quite serious, Novatek and Gazprom, in my opinion, do not take them seriously enough. The EU can formally or informally impose an embargo on LNG supplies, as the UK has done. They are not interested in this for the next 2 years, since supplies from Russia occupy a fairly large share in their imports," Belogoryev stressed.

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