Russia may produce more than 70 million tonnes of liquefied natural gas (LNG) per year in its remote Arctic regions, the head of gas producer Novatek has said.
Leonid Mikhelson, the head and co-owner of Novatek told a conference: “The Gydan and Yamal peninsulas have a vast resource base that allows the production of over 70 million tonnes (of LNG); it is comparable to LNG production in Qatar.”
Novatek, which was put on the list of Russian companies sanctioned by the West over Moscow’s role in the Ukraine crisis, plans to ship its first liquefied gas cargo from the Yamal LNG plant in December, mainly targeting Asian markets.
Mikhelson said construction of the first train of another plant, Arctic LNG-2, would be completed in 2022-2023.
The new plant is designed to liquefy gas from the Gydan peninsula – the province next to where Gazprom, the world’s largest gas producer, also holds gas deposits.
Mickelson said he was willing to forge an alliance with Gazprom to produce gas in the Arctic. Previously, Novatek had talks with Gazprom about buying gas fields in Yamal.
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