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Novatek Discovers News Arctic Gas Field

NATURAL GAS

Novatek has discovered a new Arctic gas field with reserves around 52bcm after completing testing for the Arctic LNG 1, according to the company.

  • "The new field is estimated to hold recoverable reserves of 52bcm of natural gas and 2mn tons of liquids under the Russian reserve reporting standards," according to the report.
  • Novatek is planning to launch Artic 2 LNG in 2023 and a third line in 2026.

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