Chinese company Wison New Energies, which was responsible for the construction of modules for the "Arctic LNG-2" project for the extraction of natural gas and production of liquefied natural gas (LNG) on the Gydan Peninsula, announced the suspension of operations in Russia.
The Board of Directors of Wison New Energies has decided to terminate all current projects in the Russian Federation and immediately and indefinitely cease participation in new ones.
The statement indicates that Wison New Energies is aware of the consequences of this decision for partners. At the same time, the management explains its actions by concern for the company's strategic future.
In November 2023, the United States imposed sanctions against Arctic LNG-2. In May 2024, the American authorities expanded restrictions on ships and companies associated with the project.
Other Wison projects in Russia
Wison New Energies also has contracts with the Rosatom State Corporation for the construction of hulls for 3 floating nuclear power units (FNPPs). It is expected that the FNPPs will provide electricity to the Baimskaya Mining and Processing Plant (GOK) in Chukotka. GDK Baimskaya LLC has also been sanctioned by the West.
The state corporation has not yet commented on Wison's decision to curtail operations in Russia.
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