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Novatek claims Russia has potential to produce 160 million tpy of LNG

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LNG Industry,

According to Reuters, the chief executive of Novatek, Leonid Mikhelson, has said that Russia has the potential to produce 160 million tpy of LNG.

Reuters reports that the country’s upper house of parliament earlier approved a zero rate extraction tax on natural gas for future LNG production in the Arctic.

Novatek – an independent gas producer – is reportedly set to benefit from this approval.

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