Arctic LNG 2 Project

Arctic LNG 2 is a large liquefied natural gas export project located in Russia's Arctic region. The project was developed to increase Russia's LNG production and supply cargoes to international markets, especially Asia. It has been heavily targeted by US and European sanctions aimed at restricting Russia's energy revenues, affecting production, exports, financing, and access to specialised LNG carriers needed to transport cargo from the Arctic. The Saam floating storage unit near Murmansk is used to temporarily store LNG cargoes from the project before onward shipment.