NOVATEK wants to increase the amount of construction of LNG projects

© RIA Novosti / Sergey Mamontovaya in fotomonsterflash plant Yamal LNG. Archival photoNOVATEK wants to increase the amount of construction of LNG projects© RIA Novosti / Sergey Mamontovaya the image Bank

The resource base of NOVATEK allows to produce more than 100 million tons of liquefied natural gas per year, thus by 2030, production could reach 70 million tons, as the company is exploring the possibility after the implementation of the project «Arctic LNG 2» to build five production lines instead of the planned three, said the head of the Department of NOVATEK’s development strategy and prospective business projects Georgiy Nozadze.

«The resource base of NOVATEK, according to our estimates, allows to produce more than 100 million tons of LNG. According to our strategy, we have planned for 2030 to produce 57 million tonnes of LNG. That is, except the «Arctic LNG 2″ we are implementing another project of the same capacity (19.8 million tons — ed.),» said Nozadze at a meeting on localization of production of the CNG equipment.

«Now we think that perhaps we will revise our plans and make another two lines. Then, our LNG production will reach 70 million tons by 30 year… Actually our challenge to the project of «NOVATEK» has occupied 15% of the world LNG market», — said the head of the Department.

«That is the strategy was written six lines: «Arctic LNG 2» (on three lines — ed.) plus another project (three lines — ed.). And can they become eight. Decide on the results of what we are planning is in the process of «Arctic» and further exploration of what we have,» explained later Nozadze reporters. The input of the project «Arctic LNG 2» it is planned to complete in 2025.

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