Novatek says postpones Obsk LNG launch to 2024 from 2022–23

MOSCOW, Jun 2 (PRIME) -- Russian gas producer Novatek has adjusted the liquefied natural gas (LNG) production plan until 2030, rescheduling the launch of the Obsk LNG facility to 2024 from 2022–2023, the company said in a statement late on Monday.

Full launch of the plant, consisting of two production lines with 2.5 million tonne capacity each, is slated for 2024–2025.

The company plans to produce 19.6 million tonnes of LNG in 2020, or 5% more than in 2019, raise output to 26 million tonnes in 2023, to 44 million tonnes in 2026 and to 57–70 million tonnes in 2027–2030. The 2030 goal was not changed.

The launch of the fourth line of Yamal LNG is slated for 2020, which will raise production capacity of Novatek to 1 million tonnes, the first line of Arctic LNG with capacity of 6.6 million tonnes can be launched in 2023. Three to five LNG producing lines can be launched in 2027–2030.

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