TotalEnergies issues force majeure over Novatek’s Arctic LNG 2 project

I am only speculating of course but might it be that the entire LNG adventure in the Russian Arctic has been financially difficult to use friendly terms? It’s easy to justify an expensive investment when the market goes crazy and insane prices are paid for the commodity. Now that we are back to saner elevations, that’s harder. Also, doing things on Yamal is inherently expensive. Just a little more than 15 years ago, Yamal was considered so difficult to work in that anything produced there must be hideously expensive. And that’s assuming competent management and great tech which goes missing. Russians are not known to be masters of complex processes. 

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