Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Russia’s Novatek seeks rights for gas export from planned Murmansk LNG plant – TASS

    Russia’s Novatek seeks rights for gas export from planned Murmansk LNG plant – TASS

    June 21, 2023
    Share
    Facebook Twitter LinkedIn WhatsApp

    Moscow — The head of Russia’s largest liquefied natural gas producer Novatek said the company is pushing for changes to the gas export law so that its future Murmansk LNG plant will be able to sell LNG abroad, TASS news agency reported on Tuesday.

    Novatek announced plans earlier this month to build the Murmansk LNG plant, which will have an annual capacity of 20.4 million tonnes per year. The first line at the plant could start operations in 2027.

    The plant will help Russia reach its goal of gaining a 20% share of the global LNG market by 2035 and expanding its annual LNG output to 120 million-140 million tonnes from around 32.5 million tonnes now.

    While Novatek’s currently operational plant, Yamal LNG, is one of a limited number of entities that have the right to export gas, Murmansk LNG does not.

    “The export law needs to be amended so that Murmansk LNG can get the right to export,” Leonid Mikhelson was quoted as saying, adding that the company has set up a working group in parliament in order to address the issue.

    Mikhelson said Murmansk LNG would use Novatek’s own technology, called Arctic Mix, to produce the frozen gas.

    He also said Yamal LNG would produce less than 20 million tonnes of LNG this year, down from 21 million tonnes in 2022, as the second line of the plant is under maintenance.

    The third line will stop for maintenance for three weeks in August, he said.

    The Novatek head also expected core profit to fall by around a quarter this year, while income was seen declining by 30% due to lower LNG prices.

    The company sees natural gas production rising by up to 2% this year from last year’s 82 billion cubic metres, while oil and gas condensate output may also increase by 2%, Mikhelson said.

    Reporting by Olesya Astakhova; Writing by Vladimir Soldatkin; Editing by Jan Harvey – Reuters

    Follow us on twitter

    Related News

    ADNOC Gas takes FID and awards $5b contracts for RGD project

    ‘Shell’s decision on Phase 2 of LNG Canada will depend on other opportunities’

    Nigeria loses N710bn to gas flaring in four months

    E-book
    Resilience Exhibition

    Latest News

    NSC seeks closer collaboration with Police to boost Port enforcement

    June 12, 2025

    Senate Committee commends NCDMB, pledges support to drive the local content development

    June 12, 2025

    Tinubu pardons Ken Saro-Wiwa, confers national honours on Ogoni Nine

    June 12, 2025

    Ensure NDDC 2025 budget reflects economic realities – Stakeholders

    June 12, 2025

    Nigeria reaffirms partnership with ILO on promoting social justice & decent work

    June 12, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.