Russia Stakes Claim, Challenges US in Global Liquefied Natural Gas Market

Russia hopes its $27 billion Yamal liquefied natural gas project will dent United States’ recent inroads into the European natural gas market, which Russia has dominated for decades.
Russia Stakes Claim, Challenges US in Global Liquefied Natural Gas Market
A liquefied natural gas reservoir in the port of Sabetta on the Kara Sea shore line on the Yamal Peninsula in northern Russia on Dec. 7, 2017. MAXIM ZMEYEV/AFP/GETTY IMAGES
Fan Yu
Updated:
On a frigid December day in Sabetta—a port located on the Yamal Peninsula in northern Russia bordering the Arctic Ocean—Russian political and business leaders gathered to mark the opening of a new industrial facility that could help Russia dent America’s influence in Europe.
No, it’s not a new submarine pen or missile silo; it’s a liquefied natural gas (LNG) facility called the Yamal project.
Fan Yu
Fan Yu
Author
Fan Yu is an expert in finance and economics and has contributed analyses on China's economy since 2015.
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