European sanctions are having a “direct impact” to complete services for Russia’s Arctic LNG 2, a major liquefied natural gas (LNG) project in the Far North of the country, Technip Energies’ CEO said Monday.

arctic lng map

Since Russia’s invasion of Ukraine in February, the European Union (EU) has imposed a series of sanctions. They include barring delivery of goods and technologies required for natural gas liquefaction. 

Those bans in turn are impacting Technip’s services delivery for Arctic LNG 2, CEO Arnaud Pieton said during the first quarter conference call. Russia’s PAO Novatek late last year clinched funding for the 19.8 million metric tons/year project, which was approved in 2019.

The ban on delivering liquefaction goods and technologies “will naturally have a more...