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Yamal LNG to increase output to 21 mln tonnes in 2022, payments for Europe supplies back to normal

  • Sun Online Desk
  • 14th October, 2022 04:09:38 PM
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Yamal LNG to increase output to 21 mln tonnes in 2022, payments for Europe supplies back to normal

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Yamal LNG will produce around 21 million rubles of liquefied gas in 2022, Leonid Mikhelson, CEO of the project's main shareholder, Novatek , told reporters.

The plant produced 19.64 million tonnes in 2021.

Mikhelson also said that payments for LNG supplies to Europe were back to normal, while in early September he said it had become more difficult to work with Europe in LNG supplies, and that the company intended to increase deliveries to Asia.

"It got somehow better with payments for gas in Europe. [You and I] met in Vladivostok literally recently. Yes, there were delays [with payments]. Payments were being made, but there were delays all the time. Now either winter is closer, or you have described [the problem] well," Mikhelson told reporters.

He did not comment on whether the share of LNG supplies to Asia was increasing.

Mikhelson said buyers were showing an interest in long-term gas contracts after prices had soared, but so far Novatek was not expediting these negotiations.

He also said that the company maintained dialogue on gas swaps, but not with Qatar, which plans to become the largest, "self-sufficient" LNG exporter in the world.

"The issue [of swaps] is relevant, we are in dialogue with many market participants, but in the most embryonic form. It is not so easy to formalize it legally, and there are political aspects. Yes, we are in dialogue," he said.

Mikhelson said Novatek planned to increase cooperation with the countries of the Middle East. "There is already something, and I think we will develop it further," he said, adding that he had doubts about bringing Middle Eastern investors into the company's own LNG projects. "I don't think so. You mean those countries that are on the oil market, that have their own raw material base? Why would they?" he said.

 

 Source: Interfax