OGZPY - Linde exits business development in Russia imperiling Russian LNG ambitions

Linde (NYSE:LIN +1.2%) has joined a host of Western energy players in exiting Russia following the invasion of Ukraine, putting in doubt Russia's ambitions of becoming a major global exporter of liquefied natural gas by 2030, Upstreamonline.com reports. The company is a key partner underpinning a multi-billion dollar engineering, procurement and construction contract for the Arctic LNG 2 export project led by Novatek, Russia's largest independent gas producer; the project includes the construction of three LNG trains, each with capacity of 6.6M metric tons/year. Linde also has built several partnerships with Russian gas producer Gazprom (OTCPK:OGZPY), which is believed to view the Portovaya LNG project as a strategic outlet to deliver LNG to the country's Baltic enclave of Kaliningrad if the region becomes isolated by Western sanctions. Linde shares have fallen 8% YTD but the company is in a business positioned for long-term profitable growth, Robert Honeywill writes in a

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Linde exits business development in Russia, imperiling Russian LNG ambitions