Arctic LNG 2, Novatek’s second LNG project in the Arctic Circle, will cost roughly 30% less than Yamal LNG, Chief Executive Leonid Mikhelson said during a meeting with Russian Prime Minister Dmitry Medvedev.
Capital investment in Yamal – Novatek’s first Arctic liquefaction plant, which is due online in late 2017 – amounts to $27 billion.
“But taking into account new solutions, we plan a cost reduction of 30% at a minimum,’ Mikhelson said.
Novatek is currently studying the possibility of building Arctic LNG 2 with gas supplied from...
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