Official: Novatek Kamchatka LNG terminal cost estimate to rise

VANINO, Khabarovsk Region, Sep 11 (PRIME) -- Rosmorport, an operator of most Russian sea ports, is recalculating the costs of dredging for Novatek’s liquefied natural gas (LNG) terminal on the Kamchatka Peninsula and can suspend the project for a year, CEO Alexander Poshivai said on Friday.

"We are reengineering, first of all, reassessing costs. They will be recalculated in accordance with new prices," Poshivay said.

He added that the technical layout of the project will not change.

"I think our plans are to sign a contract until the end of the year with payment next year if we follow the brief scenario. If we follow the longer one, then the project will be postponed for a year. At least, we have a letter from Novatek, where they said that a one-year postponement is acceptable for the project," Poshivai said.

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