Russia's Novatek recently halted operations at its Arctic LNG 2 project, and it has no plans to restart it this winter, according to an anonymous Reuters source familiar with the matter. The development is a significant setback for the country's gas ambitions. This project, primarily located on the Gydan Peninsula in the Arctic and majority-owned by Novatek, was supposed to expand Russia's share in the global LNG market from 8% to an ambitious 20% by 2030. However, facing mounting sanctions from the U.S. and its allies due to the Ukraine conflict, Novatek has suspended its only active LNG train and currently has no plans to restart operations until next summer.