French oil giant Total's President of Exploration and Production Arnaud Breuillac said Wednesday that he does not consider any Russia sanctions to hinder the company's participation in the Arctic LNG 2 project of Russia's Novatek gas giant
LONDON (Pakistan Point News / Sputnik - 27th February, 2019) French oil giant Total's President of Exploration and Production Arnaud Breuillac said Wednesday that he does not consider any Russia sanctions to hinder the company's participation in the Arctic LNG 2 project of Russia's Novatek gas giant,"The strategy in Russia is very clear, we have seen a very successful Yamal LNG [liquefied natural gas] project that managed to go through [despite sanctions]. For the time-being all of the activities that we plan in Russia are not subject to sanctions, so we don't see any direct sanctions, any direct difficulties," Breuillac told reporters on the sidelines of the International Petroleum Week conference in London, when asked if sanctions could make the French energy giant review its commitment to the Arctic LNG 2 project by reducing its share or exiting completely.
Arctic LNG 2, located offshore near the remote Gydan Peninsula in northwestern Siberia, is Novatek's second large-scale LNG project. While it is expected to be launched by 2025, Novatek is currently working to complete the Yamal LNG project, located near the Gydan Peninsula as well.
In 2014, relations between Russia and the West deteriorated over Moscow's alleged involvement in the Ukrainian conflict and Crimea's reunification with Russia following a referendum. The United States and the European Union imposed several rounds of sanctions on Russia's energy, banking, defense and other sectors, as well as on a number of Russian officials. Moscow has repeatedly denied the allegations of meddling in the Ukrainian conflict and reacted with countermeasures against the Western nations that targeted it with sanctions.
