The LNG plant, which will be based on the resources of the Kumzha and Korovinskoye fields in the Timan Pechora Province, can be ready for production before the end of 2018, a new project feasibility report shows.
The project is technically implementable and commercially favourable on all parameters, the report written by the Gidrospetsgaz company concludes. A second independent report, written by VNIIGAZ, an engineering unit under Gazprom, supports the conclusions, a press release informs.
As previously reported, regional Governor Igor Fyodorov in May this year set up a working group with representatives of licenseholder Alltech Group, Gazprom and the regional administration to assess the project. The working group members in their last meeting on 24 September got the clarifications needed for project implementation.
The plant, which will be built either as an offshore-based installation or on the shore near Cape Bolshoy Rumyanichny, will have an annual capacity ranging from 2,6 to 8 million tons of LNG. It will have a cost fram between $4,5-12 billion.
The liquified gas produced in the project will be exported through the Barents Sea.
“I am really pleased with the results,” Governor Fyodorov told RIA Novosti in a comment. “They are better than we had expected”, he added. “These kind of infrastructure project means taxes, roads, employment, expertise for the region,” the regional leader highlighted.