France has banned financing of Russia’s Arctic LNG-2 project

French authorities have opposed financial support for the second project of the Russian company Novatek. Reports FBA “Economy Today”

France has banned financing of Russia's Arctic LNG-2 project

Funding was blocked because of the alleged environmental threat to Arctic LNG-2, noting the increased degree of heating of production compared to other parts of the planet. It was reported by the French newspaper Le Monde, citing a source in the government.

La Tribune expressed confidence that the funding ban would not affect the launch of Russia’s Novatek’s second plant. According to French observers, the project has received multibillion-dollar investments, which will be sufficient for the successful commissioning of Arctic LNG-2.

The Arctic LNG-2 plant will be located at the Utrenneye field on the Gydan peninsula, where the company plans to build three lines with a capacity of 6.6 million tonnes of blue fuel per year in the future.

It is known that Novatek has developed about 70 billion cubic metres of gas in the first 11 months of this year.