CEO: Novatek collects bids on participation in Arctic LNG-2

DAVOS, Jan 24 (PRIME) – There are no official proposals from Saudi Aramco on its participation in the Arctic LNG (liquefied natural gas)-2 project of Russian independent gas producer Novatek, while participation bids are collected until March and April, Novatek CEO and core owner Leonid Mikhelson said at the World Economic Forum in Davos on Thursday.

“Saudi Arabia’s Energy Minister Khalid Al-Falih also told me (that Saudi Aramco in interested in joining the project). I respect him highly, but he said… that the decision would be made by the general management… We are ready to discuss any proposal,” he said. “I expect that… in March or April we will receive the core bids from the potential partners.”

The Arctic LNG-2 plant will be launched in 2022–2025 and fields of the Gydan Peninsula in the north of West Siberia will become its resource base. The cost of the plant is U.S. $27 billion. The facility is expected to produce 19.8 million tonnes of LNG per year.

End