Novatek’s Yamal project produces 100 million tons of LNG

Russian LNG exporter Novatek has produced 100 million tons of liquefied natural gas at the giant Yamal LNG project since its launch in December 2017.

Novatek announced this milestone in a statement issued on Friday saying that Yamal LNG has become the LNG industry’s “outstanding” producer in terms of the project execution and operational excellence.

The 17.4 mtpa Yamal LNG plant in Sabetta has three 5.5 mtpa liquefaction trains, and one smaller unit with a capacity of about 900,000 tons per year which features Novatek’s domestic liquefaction tech, Arctic Cascade.

Besides Novatek that holds 50.1 percent in Yamal LNG, other shareholders include France’s TotalEnergies and China’s CNPC with a 20 percent stake, each, and the Silk Road Fund that owns a 9.9 percent share.

Novatek said in the statement that the plant has been operating at 20 percent above-nameplate capacity.

The project’s share in global LNG production is about 5 percent, according to Novatek.

It gets supplies from from the South-Tambeyskoye gas field.

Earlier this year, Yamal LNG produced its billionth cubic meter of gas from the South-Tambeyskoye gas and condensate field’s Jurassic reservoirs since the start of production in 2020.

In addition to Yamal LNG, Novatek is working to launch production from the first gravity-based structure platform, or train, which will serve its Arctic LNG 2 project located on the Gydan peninsula.

Last month, the firm completed the installation of the first GBS on the underbase foundation on the seabed at the Utrenniy terminal on Gydan. The project will have three trains in total.

Novatek expects to launch production from the first unit by the end of this year and to reach its full capacity of 6.6 mtpa during the first quarter in 2024.

The resource base of the Arctic LNG 2 project is the Utrenneye field located on the Gydan Peninsula in the YaNAO, about 70 km from the Yamal LNG project across the Gulf of Ob.

Novatek is the LNG project’s operator with a 60 percent stake, France’s TotalEnergies owns 10 percent, while CNPC and CNOOC of China have 10 percent, each.

Japan Arctic LNG, a consortium of Mitsui & Co and Jogmec, owns a 10 percent stake in the project as well.

Most Popular

Excelerate buys NFE’s Jamaica business for $1.05 billion

US FSRU player Excelerate Energy has entered into a definitive agreement with compatriot LNG player New Fortress Energy to acquire NFE’s business in Jamaica for $1.055 billion in cash.

Snam’s Ravenna FSRU to get first LNG shipment

Snam's 170,000-cbm FSRU BW Singapore, located off Italy's Ravenna, is set to receive the first LNG cargo from the US as part of its commissioning activities.

Argentina’s Enarsa gets offers for LNG cargo tender

Argentina's state-owned LNG importer Energia Argentina (Enarsa) has received seven offers for its first LNG cargo tender in 2025.

More News Like This

Novatek’s 2024 profit climbs to $5.19 billion

Russian LNG producer Novatek said its net profit rose to about $5.19 billion in 2024.

Novatek’s gas sales drop in 2024

Novatek said in its preliminary report issued on Thursday that the company’s natural gas sales reached 77.76 bcm in...

US sanctions two Russian LNG terminal operators

The Department of State announced on Friday that the US is sanctioning major targets in Russia’s energy sector, imposing...

Russian LNG production slightly down in November

Rosstat’s data show that the country’s LNG terminals produced about 3 million mt in November, down 0.4 percent compared...