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Leonid Mikhelson: It is important to develop new LNG projects, including, on the Yamal and Gydan peninsulas
The global gas market will grow rapidly. In particular, global demand for liquefied natural gas is expected to double by 2030. It was declared by the head of the company NOVATEK Leonid Mikhelson on the 5th Eurasian Forum in Verona.
He notes that as Russia has significant reserves of gas, it is necessary to monetize this valuable resource. Therefore, it is particularly important to develop new LNG projects in Russia - on the Yamal and Gydan Peninsulas, also in the Far East and the European part of the country. Experts forecast that during the next 15 years the amount of the gas market will grow on 30 percent. It is expected that the LNG-market will be doubled during this period. Optimism about the LNG-market is supported with medium-term forecasts of explosive growth of demand for gas in regions, where pipeline infrastructure is weak or undeveloped, as Leonid Mikhelson underlines. As an argument the head of NOVATEK gave the forecast of experts, according to which the expected increase in demand for gas in Europe, where fuel being delivered through pipes from Russia is mostly consumed, should make about 12 percent by the end of the twenties. During the same period in Africa demand will increase on 59 percent, in the Asia-Pacific region – on 56 and the Middle East - on 45 percent, as it is informed on the website teknoblog.ru. These growing markets are unachievable for Russian pipeline gas, as Leonid Mikhelson says. NOVATEK is a Russia’s largest independent gas-extracting company. It acts as an operator of the project on construction of the plant on liquefying of gas “Yamal LNG” on the basis of the South-Tambey field. The annual production capacity will make 16.5 million tons of liquefied natural gas. The shareholders of the company are: NOVATEK (50.1 percent), French “Total” (20 percent), China’s CNPC (20 percent) and the Chinese Silk Road Fund (9.9 percent). The beginning of deliveries of liquefied gas from the enterprise is scheduled for 2017.
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