LNG

Novatek eyes investors for Arctic LNG 2

Spurred on by the successful startup of Yamal LNG, Novatek is moving ahead with plans to lock in partners for Arctic LNG 2 Spurred on by the successful startup of Yamal LNG, Novatek is moving ahead with plans to lock in partners for Arctic LNG 2.
By Daniela Latini 4 January 2018 0 28949
Yamal LNG storage tanks Yamal LNG started up in December 2017. (Novatek)

The prompt startup of Yamal LNG in December shows Novatek has chosen its partners wisely and bodes well for future projects. Novatek plans to take FID on Arctic LNG 2, the company’s second liquefaction facility, in 2019. 

Gazprom has already started complaining about Yamal volumes competing with pipeline gas on the European market, so Novatek – Russia’s largest independent gas producer – will need strong support from the government to progress its plans.

The Kremlin revealed in a statement on 27 December that President Vladimir...