The bad news for Gazprom is flowing as freely as the fuel it once pumped to Europe after it was ordered to pay €13bn for failing to fulfill natural gas orders, delivering the latest blow to Vladimir Putin's major revenue generator.The Russian energy giant is one of the big business losers of Putin's full-scale invasion of Ukraine. It posted its first loss in a quarter of a century while facing a stalled pipeline to China as it struggles to find new markets for its products.
'Russia has two main LNG export terminals, Gazprom's Sakhalin-2, on the island in the Far East, and Novatek's Yamal LNG, on the Yamal Peninsula in the Russian Arctic. Gazprom and Novatek also operate medium-size facilities in the Baltic Sea.In January, Novatek suspended some operations at Ust-Luga Baltic Sea fuel export terminal and processing complex, due to a fire started by a reported Ukrainian drone strike.
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