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Novatek targets huge Arctic gas resources

The firm intends to become one of the world's largest LNG producers by 2030 via projects in the inhospitable Arctic environment

Russia's Novatek has established itself as a major player on the global LNG stage with its Yamal LNG project. And if its Arctic LNG 2 goes ahead as planned, it will become one of the world's biggest producers, with nameplate capacity of 37mn t/yr, in the first half of the 2020s. But the firm has ambitions beyond that, as CFO Mark Gyetvay tells Petroleum Economist. PE: What projects do you see beyond Arctic LNG 2? MG: We are blessed with a huge conventional natural gas resource base that is relatively easy to extract. Russia's domestic market is not growing, so our monetisation strategy is to export this gas. Gazprom has decided to do it via pipeline. Novatek has decided to move forward wi



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