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Novatek plans to sell some Arctic LNG-2 gas on the spot market

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LNG Industry,

According to Reuters, Novatek is planning to sell a portion of gas on the spot market from its Arctic LNG-2 plant. The facility, which has not yet been constructed, would follow the Yamal LNG project, which is expected commence operations on its first production train by the end of 2017. The Yamal facility will have an initial production capacity of 5.5 million tpy, with an eventual overall production capacity of 16.5 million tpy.

Reuters claims that the Arctic LNG-2 project is scheduled to be commissioned by 2025. It too will have a production capacity of up to 16.5 million tpy of LNG.

The Chief Executive of Novatek, Leonid Mikhelson, reportedly said: “When implementing Arctic LNG-2, we will aim not to pre-sell all 100% of production but to leave a share for spot trading.” Mikhelson added that shareholders in the Yamal LNG project, as well as other investors, had already shown signs of interest in the Arctic LNG-2 project.

Edited from various sources by David Rowlands

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