Can Novatek lure Aramco to Arctic LNG-2?
Closer Russia-Saudi relations could bring new investment
Russian gas producer Novatek wants to entice Saudi Aramco to become a partner in Arctic LNG-2, after successfully launching production at Yamal, its first liquefied natural gas project, late last year. Novatek, Russia's largest independent natural gas producer, signed a memorandum of cooperation with Aramco in February related to the LNG-2 project on the Kara Sea coast, without disclosing any details. Their home countries of Russia and Saudi Arabia have been instrumental in implementing a global pact on cutting oil production by almost 1.8m barrels a day—cooperation that could provide a favourable backdrop for further collaboration. Analysts are speculating that Aramco is negotiating with No
Also in this section
12 December 2025
The federal government is working with Alberta to improve the country’s access to Asian markets and reduce dependence on the US, but there are challenges to their plans
12 December 2025
The latest edition of our annual Outlook publication, titled 'The shape of energy to come: Creating unique pathways and managing shifting alliances', is available now
11 December 2025
The removal of the ban on oil and gas exploration and an overhaul of the system sends all the right messages for energy security, affordability and sustainability
10 December 2025
The economic and environmental cost of the seven-year exploration ban will be felt long after its removal
