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 with

Also in this section
7 February 2025
The history of tin production and prices offers a preview of the future oil market. If correct, $35/bl could become the new normal for crude for several years without further OPEC+ intervention
7 February 2025
Changing oil demand patterns mean different downstream economics amid switch to naphtha, LPG and other petrochemicals
6 February 2025
Policy initiatives will take time to reverse declining output, and restoring investor confidence is far from certain
6 February 2025
This premier event is poised to address the evolving technology and investment demands of North America’s thriving chemical and pharmaceutical sectors