diff --git a/.circleci/config.yml b/.circleci/config.yml
index 22cbe274c..f59c32bc9 100644
--- a/.circleci/config.yml
+++ b/.circleci/config.yml
@@ -40,17 +40,13 @@ aliases:
 
 
 executors:
-  node12-executor:
+  node16-executor:
     docker:
-      - image: circleci/node:12
+      - image: circleci/node:16
 
-  node12-browsers-executor:
+  node16-browsers-executor:
     docker:
-      - image: circleci/node:12-browsers
-
-  node14-executor:
-    docker:
-      - image: cimg/node:14.18
+      - image: circleci/node:16-browsers
 
 commands:
   checkout-with-deps:
@@ -88,21 +84,21 @@ commands:
 
 jobs:
   install-deps:
-    executor: node12-executor
+    executor: node16-executor
     steps:
       - checkout-with-deps
       - run: npm install
       - save_cache: *save-node-modules-cache
 
   install-deps-website:
-    executor: node12-executor
+    executor: node16-executor
     steps:
       - checkout-with-deps
       - run: cd website && npm install
       - save_cache: *save-node-modules-cache-website
 
   build:
-    executor: node12-executor
+    executor: node16-executor
     steps:
       - checkout-with-deps
       # make sure that the project is compiled successfully with composite projects
@@ -116,25 +112,25 @@ jobs:
             - dist
 
   no-crlf:
-    executor: node12-executor
+    executor: node16-executor
     steps:
       - checkout
       - run: scripts/no-crlf.sh
 
   trailing-lf:
-    executor: node12-executor
+    executor: node16-executor
     steps:
       - checkout
       - run: scripts/trailing-newlines.sh
 
   lint-eslint:
-    executor: node12-executor
+    executor: node16-executor
     steps:
       - checkout-with-deps
       - run: npm run lint:eslint
 
   lint-dts:
-    executor: node12-executor
+    executor: node16-executor
     steps:
       - checkout-with-deps
       - attach_workspace:
@@ -143,13 +139,13 @@ jobs:
       - run: npm run check-dts-docs
 
   lint-markdown:
-    executor: node12-executor
+    executor: node16-executor
     steps:
       - checkout-with-deps
       - run: npm run lint:md
 
   unittests:
-    executor: node12-executor
+    executor: node16-executor
     environment:
       TESTS_REPORT_FILE: "test-results/unittests/results.xml"
     steps:
@@ -159,7 +155,7 @@ jobs:
           path: test-results/
 
   dts-changes:
-    executor: node12-executor
+    executor: node16-executor
     steps:
       - checkout-with-deps
       - run: scripts/check-dts-changes.sh ./dts-changes $(git merge-base origin/master HEAD) $(git rev-parse HEAD)
@@ -168,25 +164,25 @@ jobs:
           when: on_fail
 
   graphics-tests-dpr1_0:
-    executor: node12-browsers-executor
+    executor: node16-browsers-executor
     steps:
       - run-graphics-tests:
           devicePixelRatio: "1.0"
 
   graphics-tests-dpr1_5:
-    executor: node12-browsers-executor
+    executor: node16-browsers-executor
     steps:
       - run-graphics-tests:
           devicePixelRatio: "1.5"
 
   graphics-tests-dpr2_0:
-    executor: node12-browsers-executor
+    executor: node16-browsers-executor
     steps:
       - run-graphics-tests:
           devicePixelRatio: "2.0"
 
   graphics-tests-dpr2_0-prod:
-    executor: node12-browsers-executor
+    executor: node16-browsers-executor
     steps:
       - run-graphics-tests:
           devicePixelRatio: "2.0"
@@ -194,7 +190,7 @@ jobs:
 
 
   memleaks-tests:
-    executor: node12-browsers-executor
+    executor: node16-browsers-executor
     environment:
       NO_SANDBOX: "true"
       TESTS_REPORT_FILE: "test-results/memleaks/results.xml"
@@ -207,7 +203,7 @@ jobs:
           path: test-results/
 
   coverage:
-    executor: node12-browsers-executor
+    executor: node16-browsers-executor
     environment:
       NO_SANDBOX: "true"
       TESTS_REPORT_FILE: "test-results/coverage/results.xml"
@@ -220,7 +216,7 @@ jobs:
           path: test-results/
 
   size-limit:
-    executor: node12-executor
+    executor: node16-executor
     steps:
       - checkout-with-deps
       - attach_workspace:
@@ -231,7 +227,7 @@ jobs:
       - run: npm run size-limit
 
   build-docusaurus-website:
-    executor: node14-executor
+    executor: node16-executor
     steps:
       - checkout-with-deps
       - run: npm run tsc
@@ -252,7 +248,7 @@ jobs:
             - website
 
   deploy-docusaurus-website:
-    executor: node14-executor
+    executor: node16-executor
     environment:
       USE_SSH: "true"
       # We should be able to remove GIT_USER when we have upgraded to a Docusaurus version > 2.0.0-beta.9
diff --git a/.npmrc b/.npmrc
index 43c97e719..4fa036145 100644
--- a/.npmrc
+++ b/.npmrc
@@ -1 +1,6 @@
 package-lock=false
+legacy-peer-deps=true
+engine-strict=true
+prefer-dedupe=true
+prefer-offline=true
+save-prefix=~
diff --git a/BUILDING.md b/BUILDING.md
index f46600d5b..f8d80f10f 100644
--- a/BUILDING.md
+++ b/BUILDING.md
@@ -1,6 +1,6 @@
 # Building Lightweight Charts
 
-The minimal supported version of [NodeJS](https://nodejs.org/) for development is 12.18.1.
+The minimal supported version of [NodeJS](https://nodejs.org/) for development is 16.13.
 
 ## Compiling
 
diff --git a/package.json b/package.json
index dd5d19ad6..fa8713727 100644
--- a/package.json
+++ b/package.json
@@ -29,7 +29,7 @@
     "charts"
   ],
   "engines": {
-    "node": ">=12.18.1"
+    "node": ">=16.13.0"
   },
   "dependencies": {
     "fancy-canvas": "0.2.2"
@@ -40,7 +40,7 @@
     "@size-limit/file": "~7.0.5",
     "@types/chai": "~4.3.0",
     "@types/mocha": "~9.1.0",
-    "@types/node": "~12.12.47",
+    "@types/node": "~16.11.25",
     "@types/pixelmatch": "~5.2.1",
     "@types/pngjs": "~6.0.0",
     "@typescript-eslint/eslint-plugin": "~4.32.0",