The US is attempting to thwart a russian project aimed at extracting liquefied natural gas in the Arctic, as reported by The Wall Street Journal.

Liquefied gas has swiftly become one of the world’s foremost energy sources, sparking tensions between russia and the United States.

This competition is most pronounced in russia’s arctic north, where a massive new offshore liquefied natural gas facility, a pivotal endeavor for russian exploration president vladimir putin, is under construction.

To impede the initiative, known as Arctic LNG-2, the US has deployed a barrage of sanctions. These measures have hindered russia’s acquisition of the specialized, immense tankers required for gas transportation and have complicated efforts to construct alternative vessels domestically.

“Our objective is to ensure that the Arctic LNG-2 project does not come to fruition,” stated US Assistant Secretary of State for Energy, Jeffrey Payette, during a conference in Switzerland.

Putin aims to more than triple LNG exports in the coming years. His objective: to attract additional funds to finance the conflict in Ukraine and to offset the decline in russia’s traditional gas pipeline export business.

The US may escalate pressure due to russia’s limited dominance in the LNG market, making blockades less risky compared to oil markets, according to Maria Shagina, a sanctions researcher at the International Institute for Strategic Studies.

“Ruzzia had ambitious plans, but these were thwarted by the invasion of Ukraine. Ruzzia will face limitations in LNG development, as well as challenges in securing contracts, funding, and technology,” said Jason Fir of Poten & Partners, a shipping and brokerage firm.
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