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St. Petersburg International Economic Forum 2016

Investments in Baltic LNG, Sakhalin-2, Yuzhno-Kirinskoye deposit total $13 bln — Novak

Baltic LNG implies the construction of an LNG plant an area of the sea port of Ust-Luga. The capacity of the plant will be 10 mln tonnes of LNG per year and may be increase to 15 mln tonnes

Alexander Novak irill Kukhmar/TASS

Alexander Novak

© irill Kukhmar/TASS

ST.PETERSBURG, June 16. /TASS/. Total investment in the projects of Baltic LNG, Sakhalin-2 and the development of the Yuzhno-Kirinskoye deposit amount to about $13 billion, Russia’s Energy Minister Alexander Novak told the St. Petersburg International Economic Forum.

St. Petersburg International Economic Forum 2016

"Shell will use technologies, which include those used in Sakhalin-2. This project is considered as part of collaboration between Gazprom and Shell Company, in particular on construction of the third stage of the Sakhalin-2 LNG plant and the development of the Yuzhno-Kirinskoye field. Total investment in these projects exceed $13 bln. Shell is interested in the joint project. (for the development of the Yuzhno-Kirinskoye field - TASS)," the minister said.

The Baltic LNG project is discussed in the context of the global partnership between Gazprom and Shell, which includes the Nord Stream-2 pipeline, the expansion of the LNG plant on the Sakhalin island and the exchange of assets. As a result of these operations the Russian monopoly expects to strengthen positions on the LNG market in the Asia-Pacific region.

Baltic LNG implies the construction of an LNG plant an area of the sea port of Ust-Luga, Russia’s Leningrad region.

The capacity of the plant will be 10 million tonnes of LNG per year and may be increase to 15 million tonnes. Commissioning of the plant is scheduled for December 2021.

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Oil & Gas Alexander Novak SPIEF 2016

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