UPDATE: Novatek exec says Yamal LNG avg output exceeds plan by 9%

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MOSCOW, Apr 26 (PRIME) -- The average volume of liquefied natural gas (LNG) production of the first stage of Yamal LNG is 9% higher than planned, Deputy CEO of shareholder Novatek Mark Gyetvay said in a presentation shown on Thursday.

“A 72-hour test has been made in order to confirm the engineered features of the first stage of Yamal LNG. The average production level exceeded the plan by 9%,” Gyetvay said.

The Yamal LNG project envisages construction of a 16.5-million-tonne LNG plant on the basis of the Yuzhno-Tambeiskoye field on the Yamal Peninsula. Russian independent gas producer Novatek holds 50.1% in the project, France’s Total has 20%, China’s CNPC owns 20% and China’s Silk Road Fund holds 9.9%.

Gyetvay also said that Novatek plans to complete project documentation for Arctic LNG-2 by July. The price estimate is to be completed by November, he said.

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.

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