What happened
A person with knowledge of the figures said Arctic LNG 2 - operated by Arctic LNG 2 LLC and led by Novatek PJSC - lifted natural gas output to fresh highs during July and August. Output exceeded 27 million cubic meters per day during those months, nearly twice what the facility produced in August 2025.
How it happened
The project is leaning on a larger, murkier tanker pool to move cargo. Ship-tracking compiled by Bloomberg counts at least 20 vessels serving Arctic LNG 2, up from 11 at last December's close, with many tied to ownership that is hard to pin down. The added capacity is helping move supply to China, identified as the lone buyer of the facility's sanctioned shipments.
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Why it matters for your portfolio
Exports hit monthly records above 500,000 tons in July and again in August, which Novatek's online converter equates to about 700 million cubic meters per month. The plant sits above the Arctic Circle and is central to Russia's push to triple LNG output, a target pushed beyond 2030 by Western sanctions imposed after the full-scale invasion of Ukraine. Russia's answer has been to assemble a shadow fleet to keep volumes moving. Arctic LNG 2 LLC and Novatek did not immediately respond to emailed questions.
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