Novatek invests in Arctic LNG plant

Russia's largest independent natural gas producer, Novatek, has announced that the estimated cost of building a LNG plant in the Arctic will be around $ 10 billion. Interestingly, earlier forecasts indicated even greater cost.

The construction of new installations for liquefying natural gas Arctic LNG 2 will be carried out over several years. The plant will be built on the Gydan Peninsula at the Salmanovskoye field in Russia. Proved gas reserves are at least 257 billion m3 of gas. In addition to this, the oil reserve is about 56.5 million tons. The analysis shows that there can be up to 20 billion m3 of gas on the peninsula and in its vicinity.