Novatek's Arctic LNG 2: Navigating Sanctions and Seeking U.S. Diplomatic Revival

Russia's largest LNG producer, Novatek, faces U.S. sanctions over its Arctic LNG 2 project, due to the Ukraine conflict. With hopes of rebuilding U.S. relations and removing the project from the sanctions list, Novatek's executives engage lobbyists amidst the cautious return of Trump to presidency.

In a bid to sidestep sanctions, Russia's Novatek is rallying efforts to mend strained U.S. relations. Sanctions imposed on its Arctic LNG 2 project have resulted in the suspension of output, sources reveal.

The effort involves senior executive Denis Solovyov's meetings with U.S. lobbyists, hoping to influence policy changes as Donald Trump prepares to re-enter the White House. This comes amidst Novatek's strategy to illustrate its non-contribution to Russia's war budget.

Novatek is eager to lift sanctions, thereby resuming Arctic LNG 2 operations and reinforces attempts to assure Western counterparties of its non-financial role in the Ukraine conflict.

(With inputs from agencies.)