Novatek to tie up Saudi Aramco as Arctic LNG-2 project partner

Russian LNG export player Novatek is looking to bring Saudi Aramco onboard its second liquefied natural gas export project proposed for the Arctic. 

Novatek’s chief executive, Leonid Mikhelson, said the company is looking to bring Saudi Aramco onboard the Arctic LNG-2 project proposed for the Gydan peninsula, Reuters reports.

Comments came following the memorandum of understanding signed earlier this month, that will see the companies cooperate on international projects including LNG.

Novatek started exporting liquefied natural gas from its Yamal LNG project in December and is planning to develop the second project in the Russian Arctic, however, the production capacity has been bumped up from the previously planned 16.5 mtpa to 19.8 million tons per year.

The project is expected to start exporting in 2022-2023.

LNG World News Staff