“Gazprom” has lost leadership in Russia

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Photo: Alexander Koryakov / Kommersant

The Russian gas company “NOVATEK” has become the country’s largest producer of liquefied natural gas (LNG), bypassing Gazprom. This was achieved due to early commissioning of the LNG plant in the framework of the project “Yamal LNG”, according to the website of the company.

“PAO NOVATEK announced today that its joint venture Yamal LNG made its first LNG in the mode of commissioning identified by the project, the third production line. The total design capacity of running three lines is 16.5 million tons of LNG per year, or 5.5 million tons for each line”, — stated in the message.

We are talking about the launch of the third line of the LNG plant. The first two were built in the last year. In this plan the third line was supposed to be ready only next year, “NOVATEK” has completed the construction ahead of schedule. The head and the main shareholder of the company Leonid Mikhelson said that “this fact is unparalleled in the industry.”

Interviewed by “Kommersant” experts note that due to a too quick start “NOVATEK” can experience difficulty with delivery of liquefied natural gas customers — delivery of the tankers that can operate in Arctic conditions, has not yet been built. But, according to market participants, this is a solvable problem.

The productive capacity of the “Yamal LNG” is 16.5 million tons of liquefied gas per year. This is more than the joint plant of Gazprom and Shell on Sakhalin. While LNG is the only opportunity for NOVATEK to export their products: by law, a monopoly on exports of natural gas has “Gazprom”. In July, NOVATEK began to supply its LNG to China.

Video, photo All from Russia.

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