Skip to main content

Novatek CFO claims Arctic LNG 2 will cost US$500 – US$750/t

Published by
LNG Industry,


According to Reuters, Mark Gyetvay, Novatek Chief Financial Officer, has said that the cost of the company’s proposed Arctic LNG 2 project is in the US$500 – US$750/t range.

Gyetvay discussed the northern Russian project while speaking at a conference in London on Tuesday. A final investment decision (FID) was taken on the project just last month.

According to Reuters, the CFO said that, by adapting lessons learned from Yamal – the company’s first LNG project – Novatek has been able to reduce costs by approximately 30%. Reportedly, he added that the LNG trains will now be condensed and fitted onto a floating barge.

Gyetvay said: “I think we’re in that range of US$500 – US$750 and I think if we can stick in that range, you’ll see the project moving forward.”

Read the article online at: https://www.lngindustry.com/liquefaction/09102019/novatek-cfo-claims-arctic-lng-2-will-cost-us500-us750t/

You might also like

LNG Fuel 2020

LNG Fuel 2020

LNG Fuel 2020 is an online conference for professionals in the 'LNG as a marine fuel' sector. Since this is a completely virtual conference, you can join us from anywhere in the world, absolutely free. Register for free today »

 
 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

LNG project news


 

LNG Industry is not responsible for the content of external internet sites.