Novatek plans to complete geological exploration at the Gydansky license block in the Yamal-Nenets Autonomous Area by 2021 and to start gas production for the Arctic LNG 2 plant, TASS reports, citing Novatek CEO Leonid Mikhelson.

"We have been working on the resource base. We have won a license to develop the Gydansky gas block which lies 80 km away from Utrenneye field. By our estimate, between 3-4 years will be enough to complete geological exploration. By 2021, we will consider the possibility of delivering gas from the field to the LNG plant for liquefaction," said Mikhelson.

The Russian Government has issued a universal exploration and production license to Arctic LNG 1, Novatek's subsidiary. In early June, Arctic LNG 1 won the auction for the deposit by pledging 2.26 billion rubles for the license.