International cooperation
Indian companies consider buying liquefied gas from Novatek plant in Gydan
© RIA Novosti. Alexander Astafyev

Indian companies consider buying liquefied gas from Novatek plant in Gydan

India is interested in negotiating the supply of liquefied natural gas (LNG) from the plant being developed by independent gas producer Novatek on Gydan Peninsula in the Yamal-Nenets Autonomous Area, according to a joint statement by Russian President Vladimir Putin and Indian Prime Minister Narendra Modi.

"The two officials recognized the importance of organizing LNG supplies from Russia to India. In this regard, both noted with satisfaction that cooperation in LNG trade is growing between Russia's Gazprom group and its Indian partners. Russia welcomes the Indian partners' interest in collaborating on joint projects involving LNG supplies and putting to use the new Arctic LNG-2 plant Novatek is building to process the output of the fields on the Gydan Peninsula and partly in the Gulf of Ob," the statement read.

Novatek head Leonid Michelson previously said that the timeframe for the Gydan plant construction was to be determined in 2016.

The company is building a 16.5 million tons per year liquefaction plant to process the resources of South Tambeyskoye field on the Yamal Peninsula. The first phase of the Yamal LNG project — of the three phases planned — is expected to go online in 2017.