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Japan’s Marubeni can take part in LNG storage construction in Russia

April 16, 14:32 UTC+3

Novatek is in talks with potential partners for the project of LNG transshipment point in Kamchatka

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TOKYO, April 16. /TASS/. Japan’s Marubeni can participate in building a liquefied natural gas (LNG storage) for Novatek, Russian Transport Minister Maxim Sokolov said on Monday after the meeting with Japan’s business community representatives.

"We discussed a project related to construction of a LNG storage <...> in the area of Petropavlovsk-Kamchatsky at a meeting with the company," the minister said. The storage will be built for gas produced on fields developed by the Russian gas producer Novatek.

Novatek is in talks with potential partners for the project of LNG transshipment point in Kamchatka, the company’s CEO Leonid Mikhelson said earlier. The Russian gas producer has already signed a memorandum of understanding with Japanese companies Marubeni Corporation and Mitsui O.S.K. Lines, Ltd. The document determines the intentions of the parties and specific measures to study the feasibility of establishing an LNG transshipment and marketing complex on Kamchatka peninsula. In particular it concerns investments in the development of this infrastructure project.

Earlier, Deputy CEO and commercial director of Novatek Lev Feodosyev said that the company is studying the possibility of building a terminal for the transshipment of liquefied natural gas on Kamchatka peninsula. The company plans to deliver LNG from the Yamal-Nenets Autonomous District in Russia’s north via the Northern Route to the ports of the countries of the Asia-Pacific region. It is planned that in the future the terminal will operate on a year-round basis independently of the navigation season in the Arctic region.

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