Russian independent natural gas producer OAO Novatek (NVTK.RS) expects to more than double output to around 115 billion cubic meters a year by 2020, the company said Friday.

Novatek also plans to increase its share of the Russian market to 14% by 2020 from 8% now, it said at a 10-year strategy presentation.

The company added that capital spending at the Yamal LNG project could reach between $18 billion and $20 billion.

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