UPDATE: Novatek to choose partners for Arctic LNG-2 before invest decision

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MOSCOW, Feb 21 (PRIME) -- Russian independent gas producer Novatek will compile a list of partners for the Arctic LNG-2 liquefied natural gas project before making a final investment decision, Novatek Deputy CEO Mark Gyetvay said in a conference call on Thursday.

“We are almost sure that we will decide on the partners (in the project) before making a final investment decision,” he said, adding that Novatek is to make an investment decision in July–December.

He also said that Novatek has signed contracts with several equipment suppliers, contracting about 50% of equipment it needs for the project.

CEO Leonid Mikhelson said that the company plans to commission Novatek-Murmansk in June, which would allow the contractor to start construction of the first reinforced concrete gravity-based platform of the Arctic LNG-2 in July.

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

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