FNI Report 1/2025. Lysaker, FNI, 2025, 52 p.
Development of a globally significant LNG business has been a long-held ambition for Russia. Russia has a large number of potential LNG projects in the planning stage which could dramatically expand its presence in the global market. However, international sanctions on technology, LNG shipping and the ability of Russia’s LNG project companies to trade globally have presented severe obstacles which the industry is struggling to overcome. A dominant role for Chinese companies and capital in development of the Russian Arctic is not a given – even if this is welcomed and encouraged by Russia. A key issue is whether Russian LNG has missed a significant market window, even if sanctions are lifted.
