Russia's Novatek developed its own LNG-producing technology
Technology
Russia's Novatek developed its own LNG-producing technology
MOSCOW (Reuters) - Russian company Novatek (NVTK.MM) said on Tuesday it has developed its technology to produce large-scale volumes of liquefied natural gas (LNG), a key step in boosting LNG production and raising Russia's global share in the fuel market.
The company said it obtained a Russian patent for its proprietary technology called "Arctic Mix" for large-scale natural gas liquefaction using mixed refrigerants.
Novatek also said the production process has been developed to implement the company's large-scale projects on gravity-based structures with a production capacity of more than 6 million tonnes per year for one producing line.
Russia lacks LNG production technologies following the withdrawal of Western companies with their know-how last year over Moscow's actions in Ukraine.
"This innovation is an important step towards the localization of liquefaction process trains in alignment with the Company's strategic objective to develop LNG technologies in Russia," Novatek said.
