Novatek has proceeded with the start of the development of the Arctic LNG 2 project in Yamalo-Nenets Autonomous Okrug, Russia.
The US$21 billion project is set to produce approximately 19.8 million tons per year (Mt/year), or 535,000 barrels of oil equivalent per day (boe/d). It will be operated on the remote Gydan Peninsula in northern West Siberia. The project involves the installation of three gravity-based structures in the Gulf of Ob on the three liquefaction trains of 6.6 Mt/year capacity each.
Novatek is partnering with France’s Total SA, Japan’s Mitsui & Co. and China National Petroleum Corp. in the project. Arctic LNG 2 is now set to compete against projects from the U.S. to Mozambique and Papua New Guinea for construction resources and customers.
