RUSSIA'S ARCTIC LNG-2: $21 BLN
REUTERS - The $21 billion Arctic liquefied natural gas (LNG)-2 project led by Russian private gas producer Novatek won a green light on Thursday, the latest in a raft of new projects aimed at meeting a likely doubling of LNG demand over the next 15 years.
Arctic LNG-2 is expected to launch in 2023 and will aim to export 80 percent of its LNG to Asia, Novatek Chief Executive Leonid Mikhelson, Russia's richest businessman according to Forbes magazine, said after the project's partners signed a final investment decision (FID) at an economic forum.
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