Novatek's Yamal LNG project in the Russian Arctic. (Novatek)
Novatek expects its forthcoming Arctic LNG 2 project to undercut United States-based exports targeting Asia, but politics as much as economics could determine investment in the plant.
The company said this week that it will be able to deliver volumes from Arctic LNG 2 to Asia for $6.10/MMBtu – a 23% discount to US LNG projects, which Novatek anticipates will deliver cargoes at $7.50/MMBtu. This is likely to attract the attention of price-sensitive Asian buyers.
Asian spot LNG import prices have exceeded double figures...
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