Expanded Vysotsk Port to Receive LNG Terminal

The Russian Government has decided to expand the Vysotsk seaport in the Leningrad Region and build a liquefied natural gas (LNG) production and transshipment terminal there.

A directive posted on the Government website calls for expanding the Vysotsk seaport by including land plots on the Ryuyevyalinniyemi Peninsula where an LNG production and transshipment terminal with a capacity of 660,000 metric tons will be built.

The project is implemented by Kriogaz (Gazprombank owns 100 percent of its shares), and construction is set to begin next year. The project also stipulates construction of an offshoot of the Leningrad-Vyborg-State Border trunk gas pipeline.

Leningrad Region Governor Alexander Drozdenko met with representatives of project investor Gazprombank and said the region considered this venture, which is due to receive about 50 billion rubles worth of investment, as highly important.

“About 700,000 metric tons of gas will be exported. We are praising Gazprombank’s decision to support the project, and we are also ready to help convert land plots into industrial sites,” Drozdenko said, adding that the terminal’s construction will create additional jobs in the region.

The investor and the Leningrad Region administration are maintaining a constructive dialogue, Gazprombank First Vice President Yaroslav Golko noted.

“All project aspects and agreements are promptly coordinated. The project has not faced any problems to date,” he said.

As of late 2014, the port’s freight turnover soared by 7.9 percent to 17.4 million metric tons.