Russia Ships LNG Straight to Storage as Sanctions Bite

Russia has started shipping LNG from its flagship Arctic LNG 2 project—but not to customers. The shipments have been made from the Arctic project to floating storage units either in Russia or in European waters, as potential customers are unwilling to buy LNG from the facility, which has seen tightened Western sanctions in the past months, the Financial Times reported on Thursday, citing data from ship-tracking providers. Located in the Gydan Peninsula in the Arctic, Arctic LNG 2 was considered key to Russia’s efforts to boost its global…