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Novatek interested in tie-up with Qatargas

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LNG Industry,


According to Reuters, the Russian Energy Minister, Alexander Novak, has stated that Novatek is looking to grow its gas trading business and, therefore, would be interested in a tie-up with Qatargas. Novatek is planning to commence liquefaction operations at its plant in the Yamal Peninsula, Russia, in 2017. This will be the second such facility in Russia, the first being Gazprom’s Sakhalin-2.

Novatek is unable to export gas to Europe via pipelines, due to the fact that Gazprom holds the rights to export gas. However, Reuters reports that Novatek is now challenging this legislation.

Once complete, the Yamal LNG project will have three production lines, each with a production capacity of 5.5 million tpy (16.5 million tpy of LNG overall). Although approximately 95% of the plant’s future production has been pre-sold, Reuters reports that both analysts and industry sources claim that the facility will be capable of selling additional cargoes on the spot market.

Edited from various sources by David Rowlands

Read the article online at: https://www.lngindustry.com/liquefaction/06062016/novatek-interested-in-tie-up-with-qatargas-2550/


 

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