Russia began deliveries of liquefied natural gas (LNG) from the Arctic in the framework of one of the world's largest LNG projects.

Yamal SPG in the north-west of Siberia is an enterprise worth $ 27 billion. After the West imposed economic sanctions against Russia, it was China that provided a huge portion of the funds needed to implement the project in exchange for a 30 percent stake.

After full commissioning, Yamal SPG will be able to produce 16.5 million tons of LNG per year, which is approximately 20 percent of Japan's annual import, one of the largest LNG consumers in the world.

According to Daisuke Harad of the Japan National Petroleum, Gas and Metals Corporation (JOGMEC), one of the reasons why China is so interested in this project is China's desire to take a more advantageous position in the course of business negotiations. Harada explains this as follows. In 2019, CNPC will begin to import natural gas through a gas pipeline in Eastern Siberia, cooperating with Russia's largest gas company Gazprom. Cooperating with NOVATEK, the Chinese CNPC will be able to compare prices for LNG and pipeline gas, weigh everything and take a favorable position in the price negotiations.

Another possible reason: China uses Western sanctions against Russia to take part in the development of Arctic resources. Harada argues that China refers to the Arctic as a continuation of the economic initiative "One belt, one way", which extends from Asia to Europe.

The second-largest gas company in Russia, NOVATEK, owns 50.1 percent of Yamal SPG shares. French Total and China National Petroleum Corporation (CNPC) own 20 percent each. The Chinese state Silk Road Fund owns the remaining 9.9 percent.