Russian LNG - one small step for Gazprom, one giant leap for NOVATEK

2017 will be a decisive year for Russian LNG, when the first ever multi-train Arctic LNG project – Yamal LNG – is commissioned. The project will start just four years after FID, and almost a decade since the launch of the country’s first and only LNG plant on Sakhalin island.  Despite Russia’s vast conventional gas reserves, the country’s share in the global LNG market is small at about 4%. This didn’t stop President Putin from saying that Russia will one day become the world’s largest LNG producer. Can this ambitious target be achieved?