The prime cost of the LNG-project in Yamal is one of the lowest in the branch
15:09 29 февраля 2016
Категории: News in English
The project of NOVATEK on liquefying of gas in Yamal is able to compete with other world projects.
Its prime cost is one of the lowest in the branch and makes 0.5 dollars per barrel of oil equivalent. This information was given by the deputy chairman of the board of NOVATEK Denis Khramov within the forum “Trade and industrial dialogue: Russia – Japan”.
The average forecast of the price for LNG in the world for the coming ten years is 8-10 dollars per million BTU in Asia and 7-9 dollars in Europe. From this point of view projects on liquefying being fulfilled by NOVATEK in Yamal are extremely competitive. Their prime cost is one of the lowest in the branch and makes 0.5 dollars per barrel of oil equivalent. This LNG from the North will be competitive around the whole world, as Denis Khramov explains. He adds that 96% of the whole gas from “Yamal LNG” has been contracted, as it is informed on the portal ria.ru.
Now the price for LNG decreased considerably. New capacities are being input to operation. Excess supply in the world exceeds the current level of consumption; this excess will be in the market for about ten years. But the general forecast says that there is no alternative to growth of the gas market, as Denis Khramov says.