... the project is unclear.
The escalation of the direct U.S.–China trade war is thus bringing greater losses to the US than to China, which can use alternative sources given the oil and LNG supply glut on the global market and oil and gas being offered at acceptable or even lower prices. Yet the US is affecting the freedom of choice between such sources by imposing sanctions, in particular, on Iran and Venezuela. Until recently, these countries were important suppliers of oil to China.
US ...
... preliminary contracted quantitates, 85% of the annual production capacity will be transported to the Asia-Pacific region, out of which China will receive 3 million tons. The project is expected to become operational in 2017.
The major shareholder of Novatek, Gennady Timchenko, happens to be a close friend of Russia’s President Vladimir Putin. In 2014 Novatek was put on the US sanctions list, which forbid financing the company. This greatly endangered the realization of the company’s projects, most notably the Yamal LNG, since the company lost access to Western capital markets. While around 5.7 billion euros were provided by Russia’s ...
