EU Sanctions May Stall Work on Russian LNG Project, Technip Says
- ‘It’s hard to assume much work can be done’ after June: CEO
- Company is working on handover to majority owner Novatek
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Technip Energies NV may have to considerably slow construction for Novatek PJSC’s Arctic LNG 2 project because of the latest European Union sanctions against Russia for invading Ukraine.
The prospect is a blow for Netherlands-based Technip and the Russian energy company, which is developing the giant export terminal for super-chilled liquefied natural gas.