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Novatek to launch Arctic LNG 2 in late 2023 or early 2024 — deputy chairman

Eduard Gudkov expressed confidence that the project would be implemented in due time despite the difficulties facing the company

ST. PETERSBURG, June 15. /TASS/. Novatek plans to launch its Arctic LNG 2 project at the end of 2023 or the beginning of 2024, Deputy Chairman of the Management Board Eduard Gudkov said at the St. Petersburg International Economic Forum (SPIEF).

"Our Arctic LNG 2 project that we plan to launch this December or at the beginning of next year, envisions the production of around 20 mln tons of LNG and over 1.5 mln tons of gas condensate," he said.

Gudkov expressed confidence that the project would be implemented in due time despite the difficulties facing the company.

First two LNG trains for the Arctic LNG 2 project are being built at the platform of the LNG Construction Center where the construction of gravity-based structures, LNG equipment integration, fabrication of large-scale modules are underway.

"We will start transportation of the first platform shortly and as early as in July it will be delivered from the Murmansk Region to Gydan and will be set near the Utrenneye field and it will start the production of liquified natural gas," Gudkov said.

Arctic LNG-2 is Novatek's second LNG project. It includes the construction of three lines for the production of liquefied natural gas with a capacity of 6.6 mln metric tons per year each and stable gas condensate up to 1.6 mln metric tons per year. The project shareholders include Novatek (60%), Total (10%), CNPC (10%), CNOOC Limited (10%) and Japan Arctic LNG, a consortium of Mitsui and Jogmec (10%).

The 26th St. Petersburg International Economic Forum (SPIEF) - Russia’s showcase annual economic and business event - is being held on June 14-17. 'Sovereign Development as the Basis of a Just World: Joining Forces for Future Generations' is theme of this year’s forum. TASS is the official information partner of the event.

SPIEF’s expanded business program offers attendees the opportunity to participate in more than 140 sessions featuring over 1,000 moderators and speakers, according to event organizer Roscongress Foundation. In line with tradition, Russian President Vladimir Putin will address the plenary session of SPIEF on Friday.

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Novatek LNG SPIEF-2023

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