China to Seek Exemptions to US Sanctions on Russian LNG
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China is preparing to ask the US for exemptions to sanctions on a new Russian liquefied natural gas export plant, as companies seek to prevent disruptions to the flow of a fuel crucial to heating homes and powering industry.
State-owned Cnooc Ltd. and China National Petroleum Corp. each has a stake in Novatek PJSC’s Arctic LNG 2 project in Russia. The companies are planning to ask for the exemptions because the US measures threaten deliveries, according to people with knowledge of the matter, requesting anonymity because the plans aren’t public.