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Novatek to cut LNG output in 2023 to less than 20 mln tons due to Yamal LNG shutdown — CEO

According to Leonid Mikhelson, the company can keep gas production at the level of 82 billion cubic meters or increase it by 1-2% and expects the same growth for liquid hydrocarbons

ST. PETERSBURG, June 20. /TASS/. Russian independent gas producer Novatek will reduce the production of liquefied natural gas (LNG) to less than 20 million tons this year due to the planned shutdown of Yamal LNG, CEO Leonid Mikhelson told reporters.

"Last year, we produced more than 20 million tons at Yamal LNG, but there was not a single shutdown. Now the second liquefaction line is on maintenance. In August, the third line will be closed for maintenance for three weeks, so [the production will be] less than 20 million tons," he said on the sidelines of the St. Petersburg International Economic Forum.

According to him, the company can keep gas production at the level of 82 billion cubic meters or increase it by 1-2% and expects the same growth for liquid hydrocarbons.

Yamal LNG is a project for the liquefaction of natural gas, which is being implemented at the resource base of the Yuzhno-Tambeyskoye field on the Yamal Peninsula. Its capacity is 17.4 million tons per year, including three lines with a capacity of 5.5 million tons per year each and one line with a capacity of 900,000 tons per year.

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Novatek LNG SPIEF-2023

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