All news

Swiss-based German multinational company seeks localization in Russia

The company specializes in manufacturing cranes, mining equipment, and machine tools

MOSCOW, October 16. /TASS/. The German engineering company Liebherr is interested in localizing production of crane equipment for Novatek’s Arctic LNG 2 project in Russia, the Russian Ministry of Industry and Trade said on Wednesday after negotiations with company representatives.

"The concept of further development of Liebherr in Russia was discussed in detail, in particular, the German side expressed interest in localizing production of crane equipment for the Arctic LNG 2 project implemented by Novatek," the statement said.

The Chelyabinsk Region has already declared its interest.

Liebherr specializes in manufacturing cranes, mining equipment, and machine tools.

TASS reported on Saturday that Russian natural gas producer Novatek and Japan’s Mitsui & Co. and JOGMEC signed the final investment decision on the Arctic LNG 2 project. The document had been inked earlier by representatives of Chinese and French investors.

"We are very glad that our friends from Japan entered the Arctic LNG 2. While Yamal LNG was commissioned with participation of the Japanese side as contractors, then [they] become shareholders in the Arctic LNG 2," Russian Energy Minister Alexander Novak stated.

The final amount of investments in the Arctic LNG 2 will be $21 bln, the minister noted.

"Investments in the project will total $21 bln," Novak said. The ultimate capacity of the project to be implemented in 2023-2025 will be 20 mln tonnes per year, the minister added.

It was announced on June 29 of this year that the Russian natural gas producer Novatek would sell the 10% stake in the Arctic LNG 2 to the consortium of Japan’s Mitsui and Jogmec.

The Arctic LNG 2 project provides for the construction of three liquefied natural gas trains with the capacity of 6.6 mln tonnes per year each on gravity-based structures. The plant based on Gydan natural gas fields is scheduled to start operations in 2022-2023.