**Novatek Denies Funding Russian War Machine**
Russia’s largest liquefied natural gas producer, Novatek, is trying to improve its relationship with the US government. The company sent a senior executive to Washington D.C. to talk to officials from both the outgoing Biden and incoming Trump administrations.
The trip came after the US imposed sanctions on Novatek’s Arctic LNG 2 project, which was set to be Russia’s largest LNG plant. Despite this, Novatek is still working on its own LNG projects in Russia.
**Novatek’s Argument**
Novatek will argue that it shouldn’t be considered a financial contributor to Russia’s war effort because it doesn’t pay taxes like other big Russian companies do. For example, Gazprom pays corporate tax and contributes to the Russian war machine through these taxes.
**No Quick Fix Expected**
Assistant Secretary of State for Energy Resources Geoffrey Pyatt told Reuters that he doesn’t expect any major changes, especially while Biden is still in office. He emphasized that Russia’s actions will have consequences, saying “Russia is in the penalty box and it’s my job to ensure it stays there as long as possible”.
**No Change Expected Soon**
The US sanctions on Novatek’s Arctic LNG 2 project are likely to remain in place for now. The company-owned Yamal LNG project, which wasn’t sanctioned, still has special tax exemptions that will keep Russian coffers empty until 2030.
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