LNG in World Markets: Novatek Issues FM Notices to Arctic LNG 2 Buyers

This current feature was extracted from the latest edition of Poten’s LNG in World Markets, a monthly service published on December 19, 2023.

Russia’s Novatek has issued force majeure (FM) notices to long-term customers that are contracted to lift Arctic LNG 2 supply, according to sources. The notices follow two rounds of US sanctions targeting 19.8-MMt/y Arctic LNG 2 since October, which look set to jeopardize the international partners’ participation in the project, Novatek received a FM notice from the three-train Arctic LNG 2 project in late November, which said the facility was unable to fulfill its production and delivery obligations due to two factors.

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