Novatek to Launch its Third LNG in 2022

27/05/2019 09:07 LNG

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On May 21, Novatek announced that its third major LNG plant in the Yamal-Nenets Autonomous District will be launched in 2022. The final investment decision is to be reached later this year.

The construction of the new LNG site will be done by the Ob LNG LLC (“OOO Obsky SPG”), a subsidiary enterprise of Novatek’s subsidiary Novatek-Yurkharovneftegaz, registered in January 2019.

 

The plant will be located close to the port of Sabetta, the same area as the Yamal LNG launched in 2017. The Ob LNG will be based on the gas reserves of the Verkhnetiuteyskoye and Zapadno-Seyakhinskoye fields, acquired by Novatek-Yurkharovneftegaz in September 2017 for a period of 27 years. Together these fields hold 157 billion cubic meters.

 

According to the Russian newspapers Vedomosti and Kommersant, the General Director of the Ob LNG Ltd Vladimir Khurtin pointed out this Tuesday that the Ob LNG project will solely be based on Russian investments and technologies, including Novatek’s own so-called “Arctic Cascade” liquefaction technology. The Ob LNG site will comprise three liquefaction trains, each producing around 1,6 million tons annually.

Source: highnorthnews.com

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