Novatek had aimed to take a final investment decision on Obsk LNG in 2020 but delayed the move in light of the COVID-19 pandemic's impact on gas markets.
The plant was expected to come on stream in 2024-2025 and produce around 5 mln metric tons/year.
Gyetvay said at an online conference, organised by Renaissance Capital, according to Reuters:
- One of the announcements we've made recently was to move away from Obsk LNG to Obsk Gas Chemistry, which will be ... producing clean fuel like ammonia, hydrogen and methanol
Amid delays at the Yamal LNG train, however, Kommersant reported in March that Novatek was considering using technology developed by Germany's Linde instead.
Russian oil and gas companies are under pressure from investors to improve their environmental credentials.
Novatek has responded with proposed hydrogen and carbon capture and storage initiatives.