Wood Mackenzie comments on Novatek's announcement that it has started production at Yamal LNG
Published by Joseph Green,
Editor
LNG Industry,
Samuel Lussac, Senior Research Manager, Russia Upstream Oil & Gas, Wood Mackenzie, said: "Despite challenging operating conditions, Yamal LNG was delivered on time and on budget. This is unusual in the LNG industry, where the projects often experience significant cost overruns or delays.
"With this first exported LNG cargo, scheduled for 8 December, Novatek, once a domestic gas supplier, becomes a global LNG player."
Lussac added: "Largely owing to its low-cost upstream base, Yamal LNG is competitive during the near-term global LNG oversupply. Even though an important milestone has been achieved, there are still risks associated with Yamal LNG performance and logistics. The plant’s first operating months will show whether the plant can operate smoothly in the harsh Arctic environment. Also, the Northern Sea Route transportation is in its early stages of development, and its feasibility as a major LNG delivery route is unclear."
Read the article online at: https://www.lngindustry.com/liquefaction/05122017/wood-mackenzie-comments-on-novateks-announcement-that-it-has-started-production-at-yamal-lng/
You might also like
Crown LNG selects IKM Consulting Ltd as engineering design partner for Grangemouth LNG project
Crown LNG Holdings Ltd has selected IKM Engineering & Environmental Consultants as its partner for the design and engineering of its planned 100% owned floating LNG import terminal in the Firth of Forth, Scotland.