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Novatek delivering long-term strategy

Published by , Senior Editor
Tanks and Terminals,

Speaking after Russian gas producer Novatek announced that it had given the US$21 billion Arctic LNG 2 project the go-ahead, Wood Mackenzie Senior Analyst Nikolai Novikov commented: “Novatek keeps delivering on its promises and is on schedule with commissioning in 2023.

“This FID brings Novatek closer to its long-term strategy of maximising cost competitiveness across LNG markets and becoming a global LNG player.”

He added: “Novatek played the safety card by ordering the topside modules for Train 1 at Chinese yards. The next steps for Novatek will be contracting the remaining equipment, finalising the financing structure and deciding if it wants to attract a last partner in the project.”

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