Novatek to begin construction of LNG terminal in Kamchatka in 2020

MOSCOW, Mar 20 (PRIME) -- Russian independent gas producer Novatek may begin construction of a terminal for transshipment and storage of liquefied natural gas (LNG) on the Kamchatka Peninsula in January–March 2020, as seen by PRIME on the government’s official website on Wednesday.

The terminal will raise the Northern Sea Route’s traffic to 31.4 million tonnes until the end of 2026 from 9.7 million tonnes in 2017 and attract around 70 billion rubles of private investment.

Russia hopes the Northern Sea Route, which runs from Murmansk on the Barents Sea to the Bering Strait near Alaska, could substitute the Suez Canal by cutting the time of sea deliveries from Asia to Europe.

According to the previous plans, the terminal’s first stage was to be launched in 2022.

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