In order to promote the commercialization of its abundant natural gas resources and boost the domestic economy,Russia developed an ambitious LNG industry development plan,liberalized export licensing for the LNG industry with financial support,tax incentives,and facilitate year-round navigation in Arctic shipping lanes.As a result,a number of LNG projects in the Russian Arctic have completed investment decisions or plans.Since the Ukraine issue,Europe and the United States have imposed sanctions on Russia for key LNG technologies and equipment,placing several LNG projects on the sanctions list,which has had a significant impact on Russia's LNG industry In the short term,the Russian LNG industry will face uncertainties and challenges in external financing,key technology and equipment,and shipping sales under severe Western sanctions;In the long run,Russia will inevitably occupy a certain position in the international LNG market through the national level of industrial support,the breakthrough of Western technology and economic sanctions,and the eased future geopolitical situation.
LNGcurrent status of the industrydevelopment strategydevelopment planningRussia
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