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.

To read the full article, please click here.

Visit Us On TwitterVisit Us On Linkedin