China condemns U.S. sanctions on Russia’s Arctic LNG-2 project, asserting that its involvement in the venture should be free from third-party interference, according to the Chinese foreign ministry.
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US Sanctions on Arctic LNG-2 Face Criticism as China Urges Uninterrupted Economic Cooperation with Russia
China responds to U.S. sanctions on the Arctic LNG-2 project, emphasizing that economic collaboration between China and Russia is mutually beneficial and should not be subject to external restrictions.
Following U.S. sanctions, Russian controlling shareholder Novatek declares force majeure for Arctic LNG-2, impacting Chinese state-owned oil majors CNOOC and CNPC, both stakeholders in the project.
Chinese foreign ministry spokesperson Mao Ning asserts that China opposes unilateral sanctions and external jurisdiction lacking international law basis, emphasizing the need to safeguard economic cooperation.
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Chinese Oil Majors Declare Force Majeure in Arctic LNG-2 Project Amidst Growing Geopolitical Tensions
The Arctic LNG-2 project, scheduled for early 2024 production, faces setbacks as Novatek holds a 60% stake, and both CNOOC and CNPC, along with other international partners, declare force majeure due to U.S. sanctions.
CNOOC and CNPC each hold a 10% stake in the project, alongside France’s TotalEnergies and a consortium of Japan’s Mitsui & Co and JOGMEC, contributing to the global collaboration on the Arctic LNG-2 venture.
The Chinese foreign ministry underscores the principle that economic cooperation between nations, specifically China and Russia, should remain unaffected by external pressures, advocating against unilateral sanctions.
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