The Artic LNG 2 liquefaction terminal will export LNG to China

The Russian liquefaction terminal Artic LNG 2 is about to export its first LNG cargoes to China. The Western sanctions, put in place in November 2023, will therefore have no effect on the terminal's business, even though the purchase price from China is likely to be lower than the price at which the terminal could have sold the LNG in Europe. However, the fall in prices reduces the scale of the sacrifice. The terminal is majority owned by Russian interests; TotalEnergies and a Japanese consortium each hold 10%.