September 23, 2020, 8:50

Novatek to Launch Fourth Train of Yamal LNG Plant in First Half of 2020 – CEO

Novatek to Launch Fourth Train of Yamal LNG Plant in First Half of 2020 – CEO

DAVOS (Sputnik) – Russian energy giant Novatek will launch the fourth production train, or processing unit, of its Yamal liquefied natural gas plant in the first half of 2020, CEO Leonid Mikhelson said on Thursday.

With regard to the energy giant’s other projects, Michelson said that it plans to launch the first production train of the Obskiy LNG plant in late 2022-early 2023, followed by a second unit 6-9 months later, with each expected to have an annual capacity of 2.5 million tonnes.

In 2023 the Novatek CEO also plans to launch the first train of Arctic LNG 2.

Speaking about projections for this year, Michelson expects the production of gas and liquid hydrocarbons to rise by 1.5-2 percent.

According to preliminary data, Novatek increased gas production by 8.6 percent year-on-year in 2019 to 74.7 billion cubic meters (2.6 trillion cubic feet). Overall, the company boosted its hydrocarbon production by 7.5 percent to 590.1 million barrels of oil equivalent. Production of liquid hydrocarbons was up by 2.9 percent, totalling 12.15 million tonnes.

Novatek entered the LNG business in 2017 with its large-scale Yamal project, followed by its Arctic LNG 2 project. Gas is extracted from fields located in Russia’s Yamalo-Nenets Autonomous Area.

Source: sputniknews.com

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