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NOVATEK can make the FID on Arctic LNG 2 without confirmed contracts

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The final investment decision on Arctic LNG 2 project can be made by the beginning of 2019 without confirmed contracts, as reported by Mark Jetway, CFO.

In practice, FDI on trading LNG projects need gas purchase agreements. To recap, Arctic LNG 2 is the second Novatek’s LNG project. The company intends to build the facility on Gydan peninsula based on Utrenniy Field.

Besides, as reported by Mark Jetway, Novatek intends to create a gas hub in Russia to have the opportunity to price gas. He said that the hub based on Arctic projects will be created in  a couple of years.

“No one wants oil-indexed prices, everyone needs the gas prices. Have a look at gas benchmarks in Shanghai, Singapore and Beijing. Why not consider the Russian benchmarking”.



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