Novatek still working on feasibility study for Arctic LNG plan

According to Reuters, the Deputy Chairman of Novatek OAO, Mark Gyetvay, has said that the company is still undertaking a feasibility study on the development of an LNG export plant in the Gydan Peninsula, Russia.

Gyetvay reportedly said that, whilst the company has not completely given up on the Arctic LNG facility, the current low oil price was making it difficult in the short-term to develop any new LNG projects.

Speaking at a conference in Amsterdam, the Netherlands, Gyetvay reportedly said: “Right now we are just studying the idea about expanding […] we are actually looking at developing a whole new LNG project in the Gydan Peninsula.”

Edited from various sources by David Rowlands

Read the article online at: https://www.lngindustry.com/liquefaction/10052016/novatek-still-working-on-feasibility-study-for-arctic-lng-plan-2419/