International lending institutions have arranged approximately US$9.5 billion in financial support for Russia’s Arctic Liquefied Gas (LNG) project.
The US$21 billion Arctic LNG project received final investment approval a year ago. The project is expected to start in 2023 and reach its full capacity of nearly 2000 LNG annually in 2026.
However, as Moscow plans to increase its share of the global LNG market, the interest of international lending institutions has promoted the development of Arctic LNG led by the Russian non-state-owned natural gas giant Novatek.
