NOVATEK can increase LNG production up to 70 million tonnes per year by 2030

In 2020-2021 NOVATEK will consider the issue of increasing the plan on production of liquefied natural gas up to 70 million tonnes per year by 2030. The head of the company Leonid Mikhelson declared about it at the meeting on issues of localization of LNG equipment.

“In the near future we shall consider the opportunity to increase the plan on LNG production up to 70 million tonnes per year by 2030”, he said.

He explained to journalists that the talk was about 2020-2021, as TASS reports. Michelson notes that the company plans to build at least six liquefaction lines by 2030. And the amount of investments will make about 2 trillion 500 milliard rubles. Previously, NOVATEK did not exclude that there could be up to eight of them: three lines will be built within the project “Arctic LNG 2” and from three to five more within other projects of the company. Leonid Michelson notes that two or three can be built on the Russian technology “Arctic Cascade”.

“We plan to involve more than 800 Russian enterprises in our projects. 15 thousand working places will be created in Murmansk and, according to our estimates, about 80 thousand working places - on related enterprises throughout Russia. The additional growth of the gross domestic product from implementation of these projects is estimated at about 1.5% for 10 years”, Leonid Michelson said.