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Novatek says it has enough gas for a third large LNG plant

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LNG Industry,

According to Reuters, the CEO of Novatek, Leonid Mikhelson, has said that the company’s newly acquired licenses will provide enough resources to develop a third large LNG plant.

Currently, the company has developed the Yamal LNG plant, and is planning to start Arctic LNG 2 in 2023, which is expected to have a capacity of 20 million tpy.

According to Reuters, Novatek is aiming to construct further LNG facilities in the area, as its aims to produce at least as much LNG as Qatar.

Speaking to reporters in Tokyo, Mikhelson reportedly said that the three gas production licenses Novatek has on the Gydan peninsula would “give the necessary resource base for another LNG project of the size of Arctic LNG 2”. No timeframe was provided.

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