Novatek gets field for ‘next’ LNG project

Arctic LNG 1 will pay the Russian government the equivalent of $39 million for geological survey, exploration, and production rights to Soletsko-Khanaveyskoye gas-condensate field on the Gydan Peninsula of the Yamal-Nenets Autonomous Region.

Arctic LNG 1, a wholly owned subsidiary of Novatek, will pay the Russian government the equivalent of $39 million for geological survey, exploration, and production rights to Soletsko-Khanaveyskoye natural gas and condensate field on the Gydan Peninsula of the Yamal-Nenets Autonomous Region.

Novatek said the area will contribute to the resource base “for the next LNG project similar to Arctic LNG 2, with liquefaction trains to be located at the Utrenniy terminal.”

The new license area, with a 27-year term, borders Novatek’s Trekhbugorniy and Gydanskiy areas.

The Arctic LNG 2 project, under construction on the Gydan Peninsula, is to have three trains with capacities of 6.6 million metric tonnes/year each.

Across the Sea of Ob, Novatek is producing LNG from three of four trains planned in its Yamal LNG project.

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