Russian independent oil and gas producer Novatek is likely to review its current LNG future production plans over the next two years. The actual output forecast has been set at 57 Mt/year for 2030 but it could be ramped up to 70 Mt/year. This announcement comes as the company is quickly moving forward with its LNG projects, in particular the 16.5 Mt/year Yamal LNG and 19.8 Mt/year Arctic LNG-2 export terminals. Most of the production increase is likely to come from the conventional natural gas resources on the Yamal and Gydan peninsulas (Russia).
Yamal LNG was entirely commissioned in November 2018 and the three 5.5 Mt/year trains are now operational. It has ramped up to full operational capacity since then. Novatek has also started to build a fourth LNG train rated 0.9 Mt/year at Yamal LNG to tap resources of the South-Tambeyskoye field and raise the plant's capacity to 17.4 Mt/year. As for Arctic LNG-2, it will include three liquefaction trains of 6.6 Mt/year capacity each and the commissioning of the first one is currently set for 2023.
The company's gas production rose by 6.9% in 2018. For 2019, it expects to boost its gas production by 10% and its liquid hydrocarbons production by 2%.
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