Thursday, May 30, 2019

"Novatek announces THIRD LNG project in Arctic Russia"

From Eye on the Arctic, May 25:

The Ob LNG will be developed exclusively with Russian technology.
As if in a great rush to develop its Arctic resources, Russian natural gas company Novatek this week made clear that it is starting the development of a third LNG project in the Yamal region.
The Ob LNG will be based on the resources of the Verkhnetiuteyskoye and Zapadno-Seyakhinskoye fields, two structures located in the central part of the Yamal Peninsula. The fields hold a total of 157 billion cubic meters of natural gas and the projected new plant will produce up to 4.8 million tons of LNG per year.

The plant and adjacent infrastructure will cost $5 billion and is to come in operation in 2023, newspaper Kommersant reports with reference to a high-ranking representative of Novatek.
The development of the Ob LNG will run parallel to the Arctic LNG 2, the company’s far bigger project currently under development on the nearby Gydan Peninsula. The Arctic LNG 2 will produce up to 19.8 million tons, and the first of the projected three trains is to be ready by 2023.

The announcement of the Ob LNG comes a the same time as Novatek signs a major contract with UK-based TechnipFMC on engineering and construction of the Arctic LNG 2....

It's an international party that Novatek's hosting, see also:
April 29
"China Buying Stake in Novatek’s Arctic LNG 2"
March 28 
"Saudi Arabia Looks to Enter Arctic LNG With Large Investment"*
March 11
French Oil Major Total Ups Presense In Russian Arctic LNG 

*May 29, SteelGuru: "Saudi Aramco ends talks to join Novatek's Arctic LNG-2 project"