TOKYO (Sputnik) – Russian gas company Novatek aims to produce up to 33 million metric tons of liquefied gas (LNG) – around 7 percent of global LNG market – by 2025, Denis Khramov, the chairman of the management committee of the company, said Monday.
"The overall goal is to produce 33 million tons of LNG by 2025, which, according to our estimates, will take up to 7 percent of the world market," Khramov said at a session of the “Trade and industrial dialogue: Russia – Japan” forum in Tokyo.
One of the largest industrial undertakings in the Russian Arctic, the Yamal LNG project is expected to have an annual capacity of 16.5 million metric tons of gas. Novatek is said to own 60 percent equity stake in the project.
The first Yamal LNG plant is scheduled to become operational in 2017.