LNG projects of Rosneft and Novatek may be delayed because of sanctions

Western sanctions can significantly affect implementation of the LNG projects, one of the most promising areas of the gas market, in Russia. As the Kommersant has got to know, the American ExxonMobil, which has been considered the main future partner of Rosneft in Far East LNG, doesn’t plan to participate in the project as an investor. Novatek’s partner in the Yamal LNG project French Total have difficulties with its financing. Problems threaten to delay the projects, and the Russian Federation, which is already lagging behind its global competitors in the LNG market entry, runs risk of a seriously increased competition.