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17 May, 2021 14:31

Russia’s Arctic LNG 2 project may be launched ahead of schedule – Novatek

Russia’s Arctic LNG 2 project may be launched ahead of schedule – Novatek

All three production lines of the Arctic LNG 2 plant, which is aimed at exporting liquefied natural gas (LNG) from Russia’s resource-rich Arctic region, could be launched in 2023-2025, according to gas producer Novatek.

The company’s CEO Leonid Mikhelson said during a meeting with Russian President Vladimir Putin on Monday that “The launch of the first line is planned for 2023, the second line in 2024, and the third line in 2025.” Novatek had earlier planned to launch the third line in 2026, Mikhelson pointed out.

He also said that the company is discussing plans with Rosatom and Rosatomflot on year-round navigation along the Northern Sea Route from 2023.

Also on rt.com Investment in Russia’s Arctic LNG 2 project to total $6 BILLION this year

The Arctic LNG 2 project on the Gydan Peninsula envisages constructing three LNG liquefaction trains of 6.6 million tons per annum each, and a cumulative gas condensate production capacity of 1.6 million tons per annum. The total LNG capacity of the three trains will be 19.8 million tons.

Novatek announced last month that the company had inked 20-year agreements with the shareholders of the Arctic LNG 2 on the sale and purchase of the entire produced volume of liquified natural gas.

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