Russia’s Arctic LNG 2 Hits New Production Record, Delivers First Cargo to China After Year-Long Delay Amid U.S. Sanctions

Russia's Arctic LNG 2 plant, which is under U.S. sanctions, has reached a new production record and recently delivered its first liquefied natural gas (LNG) cargo to China after a year-long delay. This shipment marks the first time a tanker from the U.S.-sanctioned Russian export facility has docked at a Chinese terminal, suggesting a possible shift in Beijing's stance on sanctions enforcement. The delivery comes amid increased volatility in Chinese crude and fuel oil futures markets, driven by concerns over U.S. sanctions imposed on the Yangshan Shengang oil storage terminal in eastern China. The U.S. State Department announced these sanctions on August 21, raising questions about the future enforcement of U.S. sanctions in the energy sector.