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Russia’s Novatek allowed to export LNG

September 08, 2014, 10:23 UTC+3 MOSCOW
The license was signed by Energy Minister Alexander Novak on September 5
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© ITAR-TASS/Alexander Semyonov

MOSCOW, September 08. /ITAR-TASS/. Russian independent gas producer Novatek has received a license to export liquefied natural gas (LNG), Deputy Energy Minister Kirill Molodtsov told PRIME September 6.

“The license was signed by Energy Minister Alexander Novak on September 5,” Molodtsov said.

According to the ruling on LNG export liberalization signed by President Vladimir Putin in 2013, not only gas giant Gazprom can be licensed for exports, but also oil major Rosneft and the Yamal LNG project, implemented with the participation of Novatek.

The Yamal LNG project envisages the construction of an LNG plant with an annual capacity of 16.5 million tons on the base of the Yuzhno-Tambeiskoye field in the Russia’s Far East, whose proved and prospective reserves amount to 927 billion cubic meters of gas under PRMS standards. Novatek owns 60% on the project, France’s Total has 20% and 20% are owned by China’s CNPC.

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