09:25 GMT25 May 2020
Listen Live
    Get short URL

    Russian President Vladimir Putin said Thursday that he was pleasantly surprised at the pace of construction of the liquefied natural gas (LNG) plant in Russia's Yamal Peninsula, and noted that maintaining such a pace would allow Russia to become the world's largest LNG producer.

    ARKHANGELSK (Sputnik) — Last November, Russian Minister of Natural Resources and Environment Sergei Donskoi said that the country recognizes current world trends in the developing LNG market and plans to lead it amid implementation of the first liquefied natural gas (LNG) project in Russia's Arctic on the Yamal Peninsula.

    "If we act… at the same pace… then of course, Russia, without any doubt, not only can, but will become the largest producer of liquefied natural gas in the world," Putin said during a video conference.

    Earlier in the day it was announced that Russia's NOVATEK gas producer plans to start talks with potential partners in the Arctic LNG 2 liquefied natural gas project in a year and a half.

    Moreover, the first liquefied natural gas (LNG) deliveries under Russia's Yamal LNG project will enter the spot market and will be followed by long-term contract deliveries next year.

    The Yamal LNG Project involves the construction of facilities to supply 16.5 million metric tonnes of LNG per year from the resource base of South Tambey in Russia's Arctic Yamal Peninsula. Novatek partnered with China’s CNPC, France’s Total and the Silk Road Fund in the $20 billion LNG project.


    Japan Wants to Continue Yamal LNG, Sakhalin Projects in Russia
    Here's Why US-Produced LNG Cannot Hold a Candle to Russian Gas in Japan
    Russian Atomflot Company Orders Icebreaking Tug Worth $28.7Mln for Yamal LNG
    Russia's Novatek Offers Japanese Companies to Join Arctic LNG Projects - CEO
    LNG, Vladimir Putin, Russia
    Community standardsDiscussion
    Comment via SputnikComment via Facebook