Support The Moscow Times!

Novatek, Gazprom Sign LNG Deal

ST. PETERSBURG — Novatek and Gazprom signed a deal to build production facilities for liquefied natural gas on the Yamal Peninsula as part of a plan to export more gas to? Asia.

The new facilities would be near a proposed 16.5 million-ton? LNG facility? on Yamal that Novatek would build in partnership with Total. The capacity of both would eventually exceed 30 million tons per year.

"At the moment, we view this as a doubling of production volumes compared with Novatek's initial plans," Gazprom CEO Alexei Miller told reporters late last week. "With Gazprom's resource base, we could even double output on Yamal."

President Vladimir Putin presided over a ceremony on an icebreaker docked in St. Petersburg at which Miller and Novatek CEO Leonid Mikhelson signed an agreement to create a joint venture by the end of the year to build LNG facilities.

(Reuters)

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more