Skip to main content

Novatek sign agreement for a LNG project in the Kamchatka territory

Published by
LNG Industry,


Pao Novatek and the Ministry of the Russian Federation for the Development of the Far East and the Government of the Kamchatka Territory have signed an agreement of intent on implementing a project for the construction of a marine LNG transshipment complex in the territory of Kamchatka.

The agreement provides for Novatek’s investment in the amount of approximately RR 70 billion. The Ministry of the Russian Federation for the Development of the Far East with the Government of the Kamchatka Territory supports the project and intends to render assistance in its implementation.

“The construction of the Kamchatka transshipment complex will increase the efficiency of LNG deliveries from the Arctic zone by optimizing transport logistics,” noted Leonid Mikhelson, Novatek’s Chairman of the Management Board, “We plan to create a Russian LNG hub for shipments to consumers in the Asia-Pacific region. This investment will contribute to the development of the Northern Sea Route allowing for the optimal use of the existing Arctic tanker fleet. The project will give an additional impetus to the economy of the Far East, create additional jobs and facilitate gasification of Kamchatka by using the boil-off gas from the LNG transshipment complex.”

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/11092018/novatek-sign-agreement-for-a-lng-project-in-the-kamchatka-territory/

You might also like

LNG Fuel 2020

LNG Fuel 2020

LNG Fuel 2020 is an online conference for professionals in the 'LNG as a marine fuel' sector. Since this is a completely virtual conference, you can join us from anywhere in the world, absolutely free. Register for free today »

 

Latest Yamal LNG shipping update

The latest vessel in Yamal LNG’s fleet of 15 Arc7 LNG carriers has commenced operations, with another waiting outside the facility.

 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

LNG project news Current LNG projects