August 12, 2019 / 10:02 AM / a month ago

Russia's Novatek wants to sell LNG from Arctic LNG-2 to India

FILE PHOTO: The logo of Russian gas producer Novatek is seen on a board at the St. Petersburg International Economic Forum (SPIEF), Russia, June 6, 2019. REUTERS/Maxim Shemetov

MOSCOW (Reuters) - Russia’s Novatek is interested in supplying liquefied natural gas (LNG) from its Arctic LNG-2 project to Indian companies, Russian Deputy Energy Minister Anton Inyutsyn was quoted as saying by the ministry’s website on Monday.

Novatek plans to start producing LNG at Arctic LNG-2 in 2022-2023.

The plant, which is expected to cost around $25.5 billion, will have an annual production capacity of 19.8 million tonnes.

Novatek plans to retain a 60 percent stake in the project.

Reporting by Vladimir Soldatkin; editing by Jason Neely

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