October 13, 2022 [Reuters] – Novatek (NVTK.MM), Russia’s largest producer of liquefied natural gas, expects its Obsky plant to produce 5 million tonnes of LNG a year, the company’s CEO Leonid Mikhelson said.

Novatek has been changing the configuration of the project and last month suspended plans for a chemical complex, returning to its initial design to produce LNG in the area of the river Ob in the Arctic Yamal-Nenets region.

Mikhelson said that the investment decision on Obsky LNG is expected in the first half of 2023 and the project will be based on Russian domestic technologies.

He said the annual production capacity of Obsky LNG is seen at no less than 5 million tonnes per year with two lines of 2.5 million tonnes each.

Mikhelson also said that LNG production at its Yamal plant is seen at 21 million tonnes this year, up from 19.64 million tonnes in 2021.

Reporting by Vladimir Soldatkin

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