Negotiating over Pechora LNG
The company Alltech intends to pick partners in its Pechora LNG project in the course of 2011.
Talking at an oil and gas conference last week, the general director of SN-Neftegaz, a subsidiary of Alltech, confirmed that project partners will be chosen in the course of the year. Vladimir Mikulik also reaffirmed his company’s intention to launch the four billion USD project by year 2015, Arcticway.ru reports.
As previously reported, the Pechora LNG will serve the Korovinskoe and Kumzhinskoe fields in the Nenets Autonomous Okrug. The two fields together have estimated reserves of almost 150 billion cubic meters of gas. Production capacity will be an annual of 2,6 billion tons of LNG over a 25 year period, all of which is to be exported to Southeast Asia. The naturel gas is to be pipelined 350 km to Indiga on the Pechora Sea coast where the LNG plant and a terminal are to be built. A technical feasibility study of the project was completed by Technip earlier this year.
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Leader of Alltech Dmitry Bosov earlier said that a final investment decision is planned made in late 2011. Tenders will be held in 2012, and the LNG plant could be up running in year 2015.