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Spanish companies taking interest in LNG trading — Russia’s energy minister

Логотип TASS TASS 29.05.2017 TASS

MOSCOW, May 29. /TASS/. Spanish companies are interested in participating in Novatek’s Arctic LNG 2 project and LNG trading, Alexander Novak, Russia’s Energy Minister and co-chairman of the Russian-Spanish intergovernmental commission, said at the meeting of the commission on Monday.

"In the energy sector, the potential participation in Arctic LNG 2 is being developed. There is interest in bunkering, as well as in liquefied natural gas trading," he said.

According to Novatek CEO Mikhail Mikhelson, the issue is first of all about LNG supplies, not about taking a share in the project, though he did not rule out this option.

Arctic LNG 2 is Novatek’s second project on LNG production beyond Yamal LNG. The company is considering the construction of a new LNG plant on the Gydan Peninsula. Gas for liquefaction will be supplied from Salmanovskoe oil and gas condensate field. The construction of the plant is scheduled to start in 2018. First stages of the Artic LNG-2 will go live in 2022-2023. Capital expenditures for the construction may total $10 bln.


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