Novatek says Arctic LNG-2 owners plan to attract financing soon

MOSCOW, Nov 25 (PRIME) -- The shareholders of Russia's U.S. $27 billion Arctic LNG-2 liquefied natural gas (LNG) project plan to attract external financing soon, Novatek said in a statement Wednesday.

"The partners also discussed the current status of the project’s external financing and confirmed their focus on ensuring its completion in the nearest future," the statement read. 

The statement said that the project has progressed significantly.

"Currently, the overall project progress is estimated at 29%, with concrete casting of the first GBS (gravity-based structure) platform estimated to be 67% completed,” it said.

“The module fabrication yards are working at full capacity and modules are expected to be completed and shipped according to schedule. The modules fabrication progress for the first GBS is estimated at 46%."

The Arctic LNG-2 plant will be launched in 2022–2025 with the fields of the Gydan Peninsula in the north of West Siberia used as the resource base. The facility is to produce 19.8 million tonnes of LNG per year.

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