Novatek discovers new hydrocarbons at Utrenneye field

MOSCOW, Sep 18 (PRIME) -- Russian independent gas company Novatek has discovered two new hydrocarbon reservoirs, which are estimated at 405 billion cubic meters of gas and 40 million tonnes of gas condensate, at its Utrenneye deposit, the resource base for the Arctic LNG-2 (liquefied natural gas) plant, it said in a statement on Tuesday.

The discovery will increase the field’s resources to around 2 billion cubic meters, the statement cited CEO and core owner Leonid Mikhelson.

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.

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