Russian President Vladimir Putin attended the inaugural shipment of liquefied natural gas (LNG) from the Yamal Peninsula on Dec. 8, BNE IntelliNews reported. The Yamal LNG plant, located north of the Arctic Circle , is part of a $27 billion joint project between Russian gas company Novatek and French and Chinese companies. U.S. sanctions on several Novatek subsidiaries — imposed in response to Russian presence in Ukraine — were an obstacle in the funding and completion of the megaproject.