NOVATEK ships 30 mln tons of LNG to the global market
Novatek's first Arctic plant—Yamal LNG—has produced 30 million tons of liquefied natural gas (LNG) and shipped them to the global market.27 February 2020
According to Yamal LNG, a total of 411 tanker shipments have been dispatched since the launch of the first stage of the liquefied natural gas plant in December 2017. The latest shipment was dispatched on Wednesday with an ice-class LNG tanker 'Nikolay Yevgenov'.
Yamal LNG's nominal capacity is 16.5 mln t/year: three production lines with 5.5 mln t/year each. In 2019, however, when all three production lines were in operation, Yamal LNG produced 18.4 mln t, 11% higher than the nominal capacity. This indicates the efficiency of production and the business model even at the times of low prices for energy resources worldwide. Yamal LNG is Novatek's first large-scale Arctic project, successfully implemented by the company and its partners in the harsh northern conditions.
Yamal LNG's resource base is the unique South-Tambeyskoye gas field with estimated reserves of 1.3 trillion cubic metres of gas and 40–60 mln t of gas condensate. Some of the key advantages of Russian projects include having their own resource bases with high quality of hydrocarbon reserves, and as a result—low prices for raw materials.