One of the senior officials said that Russian gas producer NOVATEK is ready to expel Qatar from the list of major exporters of liquefied natural gas. All this is due to the fact that the company has almost completed his first projects in this area, which are unlikely to slow down or suffer the sanctions imposed by the US.
Chief financial officer mark following members were elected reported that towards the end of this year, Russia’s largest non-state producer of liquefied natural gas will start to export its products in the first phase of the project on the Yamal Peninsula in the Arctic. The deadline for the final stage can take up to six months.
The launch of the third for Russia and the second for the company project for liquefied natural gas, called “North pole — LNG” can turn a company NOVATEK, led by the richest businessman in Russia, Leonid Mikhelson, the world’s largest producer.
All this is happening despite the fact that the Russian energy sector is suffering from European and U.S. sanctions imposed on the country in connection with the annexation of Crimea. Moreover, it should be noted that Europeans are especially sensitive to any possible cuts in Russian gas supplies, which occur due to political tensions in the region.
In 2016, Russia took seventh place in the list of exporters of liquefied natural gas, supplying 10.8 million tons and occupying 4% of the total market share. The Yamal project will be started immediately upon completion of all phases, and Russia will produce 16.5 million tons more, which will allow it to become the third largest exporter in the world after Australia.
The following members were elected also spoke about the progress of the project “Yamal”: “the Second stage will be completed by the second half of next year, and the third phase will end first, not the second half of 2016”.
He added: “If we implement the project “North pole 2″, then in 2019 we will begin construction. Of course, once we make a final investment decision… We plan to bring liquefied natural gas market by 2023”.
The following members were elected said that despite the Western sanctions against Russian companies such as NOVATEK’s Yamal project, we must and are forced to use Russian and Chinese funding.
However, at the moment, he did not rule out the growth of influence of this project on the market, even considering tougher sanctions from Washington. Because these measures require funding, not technology, which the company NOVATEK is free to purchase anywhere in the world in accordance with the requirements of their projects.
The President of NOVATEK Leonid Mikhelson earlier said that the development of two projects on the Yamal Peninsula may exceed the level of gas production to 70 million tons per year, which, in turn, will bring the Russian production volumes of liquefied natural gas from Qatar.
© RIA Novosti, Sergey Mamontov | go to fotomonsterflash of the plant “Yamal LNG” and the port of Sabetta
The next day, President Vladimir Putin said that Russia has not only the opportunity to become the largest exporter of liquefied natural gas, but really they’ll be, if the pace of development of this sector will remain at the same level.
All these events occur in parallel with the fact that Japanese importers of liquefied natural gas tend to push Qatar to make concessions, including lower prices.
Representatives of the companies Tokyo Gas Co Jera and Co said he has not yet made a final decision whether they will sign new contracts with Qatar, which will replace the existing, because their term expires in 2021.
According to Bloomberg, the requirements of the Tokyo associated with excess demand on the world market for liquefied natural gas, which pushes exporters of this fuel to make concessions and enter into contracts on more favorable terms.