Novatek registers new Arctic LNG licence

Russia’s Novatek has registered a new licence to underpin its liquefied natural gas expansion activities in the Arctic.

Novatek’s unit Arctic LNG 1 registered licence number SLH 16637 NR.

The registration is for geological survey, exploration and production at the Bukharinskiy licence area on the Gydan peninsula.

Novatek operates the giant Yamal LNG project but is also building its second export project in the Arctic.

The second project is located on the Gydan peninsula across the straight from the LNG plant on Yamal.

Novatek is also looking to build more LNG export facilities in the area.

The licence is partially located in the shallow waters of the Ob and Taz bays in the Yamal region.

Novatek said on Tuesday it has obtained the licence for a period up to 2050.

The licence terms stipulates that the resource base should be used for LNG production at liquefaction facilities located in the Yamal region and the adjacent water area, the Russian company said.

The licence area is located near to the Geofizicheskiy and Trekhbugorniy license areas and the Soletsko-Khanaveyskoye field.

Arctic LNG 1, Novatek’s next large-scale LNG project, holds these licence areas.

The Bukharinskiy licence area has estimated hydrocarbon resources of 1,190 billion cubic meters of natural gas.

These resources also include 74 million tons of liquids or 8.4 billion barrels of oil equivalent.

Novatek says it aims to begin geological and geophysical activities and start the drilling the first well in the upcoming exploration 2020/2021 season.

Most Popular

Excelerate buys GasLog LNG carrier

US FSRU player Excelerate Energy has purchased a 2007-built steam liquefied natural gas (LNG) carrier from GasLog Partners, a part of Greek LNG shipping firm GasLog, according to brokers.

NextDecade, Bechtel agree $9 billion EPC deals for two Rio Grande LNG trains

US LNG firm NextDecade and compatriot Bechtel have finalized EPC contracts worth $9.09 billion for the construction of the fourth and fifth trains and related infrastructure at the Rio Grande LNG facility in Texas.

Atlantic LNG shipping rates jump to $49,750 per day

Atlantic spot LNG shipping rates rose to $49,750 per day this week, while European prices also jumped compared to the previous week.

More News Like This

Russia’s Novatek in LNG truck move

Russian LNG producer Novatek and compatriot National Carrier (NATCAR) are joining fores to develop the market for LNG as fuel for trucks.

Samsung Heavy cancels LNG carrier contract with Russia’s Zvezda

South Korean shipbuilding giant Samsung Heavy Industries has terminated contracts for 10 ice-class Arc7 LNG carriers and seven shuttle tankers with Russia's Zvezda.

Russian LNG production drops in April

Russian liquefied natural gas (LNG) production decreased in April compared to last year, according to the Russian statistics agency Rosstat.

Russian LNG production down in Q1

Russian liquefied natural gas (LNG) production decreased in the first quarter of this year, according to the Russian statistics agency Rosstat.