The Arctic LNG 2 project is a large-scale liquefied natural gas project located on Russia's Gydan Peninsula in the Arctic region. It's led by Russian gas producer Novatek, which holds a 60% stake, and the project kicked off in December 2023. The project has proven reserves of nearly 1.4 trillion cubic meters of gas and 90 million tons of liquids, with an annual design output of 19.8 million tons. It's crucial for Russia to hit its goal of producing 100 million tons of LNG per year by 2030.