Novatek to Finish Yamal LNG Plant in 2018

May 26, 2010
The Novatek company plans to complete the construction of a LNG plant in the Yamal Peninsula in year 2018. That might result in a shipping boom along the Northern Sea Route.
Company representatives last week presented the project in Salekhard, Sever Press reports. The plant, which is planned constructed near the Yuzhno-Tambeyskoe field, will be completed in 2018, the company informed. The capacity of the plant will be 15-16 million tons of LNG per year.
The LNG plant will enable Novatek to boost its gas exports. Currently, the company is restricted from engaging in gas exports because of Gazprom’s monopoly ownership of the Russian pipeline grid.
The new plant will also open up for increased shipping along the Northern Sea Route. As previously reported, the Sovcomflot company has already signaled that it is ready to ship LNG along the route.
The Yuzhno-Tambeyskoe field is one of the great gas fields in the Yamal Peninsula. It has an estimated 1.3 trillion cubic meters of gas and is located along the eastern shore of the peninsula, towards the Ob Bay. The license to the field is owned by Novatek.
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