In December 2023, Arctic LNG-2, Novatek's natural gas extraction and liquefied natural gas (LNG) production project on the Gydan Peninsula, began production, as reported by Prime news agency. Novatek's representatives confirmed this information recently.
Novatek owns 60% of the project. The owners of the remaining 40% in equal shares are companies from France, Japan and two firms from China.
In January, it was reported that Arctic LNG-2 was ready to start shipping LNG to Asian markets. The owners do not consider European shipments from the project at the moment, experts say.
Russian Deputy Prime Minister Alexander Novak estimated that shipments were set to begin in the first quarter of 2024.
Alex Shishlo for Rough&Polished
