Russia backs Novatek’s LNG transshipment terminal in Kamchatka

The Russian government is backing the construction of Novatek’s LNG transshipment complex in Kamchatka, which would help the producer slash shipping costs.

Russian Prime Minister Mikhail Mishustin has approved an investment of more than 21 billion rubles ($291.2 million), according to a statement released on Monday.

These funds will go to the construction, including dredging works, of the approach channel in Bechevinskaya Bay, where the LNG transshipment complex would be located.

The 6 kilometers long channel would be ready by the launch of the complex planned for 2023, the statement said.

Novatek’s unit Arctic Transshipment will operate the complex which will handle about 21.7 million tonnes of LNG per year.

The complex will transship Yamal and Arctic 2 LNG cargoes from Arc7 ice-class tankers to conventional ships.

This transshipment hub will significantly reduce transportation costs and shipping time of Arctic LNG cargoes going to Asia.

Novatek is also building the second transshipment hub in Murmansk and recently sold a 10 percent stake in both of the facilities to France’s TotalEnergies.

Each complex will have a floating LNG storage unit with a capacity of 360,000 cubic meters with two ship-to-ship transshipment points.

Most Popular

Fluxys awards Zeebrugge LNG gig to Sacyr Proyecta

Belgium's Fluxys has awarded a new contract to Spain's Sacyr Proyecta for services at its LNG terminal in Zeebrugge, Belgium.

Rotterdam LNG bunkering volumes climb in H1

Liquefied natural gas (LNG) bunkering volumes in the Dutch port of Rotterdam rose in the first half of this year compared to last year, despite a drop in second-quarter volumes.

China’s gas imports up in June

China's natural gas imports, including pipeline gas and LNG, rose by 1.1 percent last month compared to June 2024, according to customs data.

More News Like This

Novatek’s gas sales climb in Q2

Russian LNG exporter Novatek reported a rise in its natural gas sales, including LNG, in the second quarter of this year.

Russian LNG production drops in May

Russian liquefied natural gas (LNG) production continued to decrease in May compared to last year, according to the Russian statistics agency Rosstat.

Russia’s Novatek in LNG truck move

Russian LNG producer Novatek and compatriot National Carrier (NATCAR) are joining fores to develop the market for LNG as fuel for trucks.

Russian LNG production drops in April

Russian liquefied natural gas (LNG) production decreased in April compared to last year, according to the Russian statistics agency Rosstat.