The new port, a joint initiative of the Novatek company and Russian federal authorities, will be a key component in the development of the gas-rich Yamal Penisula. Linked with the South Tambey field and a major projected LNG plant, the port will be built to handle more than 30 million tons of goods per year.
The new port is planned to be operational all-year-round, despite the highly complex ice conditions of the Ob Bay.
In a first phase, the port will by summer 2014 be developed to handle the deliveries of modules to the LNG plant. In the second phase, the port will be developed as a terminal handing LNG tankers, Novatek informs.
The construction of the port was officially marked in a ceremony attended by Novatek Board Chairman Leonid Mikhelson, Russian Minister of Transport Maksim Sokolov and other prominent guests. In his speech, Minister Sokolov maintained that the construction of the Sabetta port marks the start of a new period in Russian Arctic shipping, one which “by year 2030 could lead to the boost of hydrocarbon shipments to 50 million tons per year from the Ob Bay alone”, a press release from the ministry reads.
The Russian government is investing 47.2 billion RUB in the port and adjacent infrastructure, while private investments in the infrastructure facilities amount to 25.9 billion RUB. The construction includes the development of a 50 km long sea channel stretching into the peninsula, the ministry informs.
Key stakeholders in the port development are the Yamal LNG company, a joint venture of Novatek (80%) and Total (20%), as well as the Federal Agency of Sea and River Transport and the Rosmorport state enterprise. More companies might soon be included in the project. The three Indian companies ONGC, Indian Oil Corp и Petronet LNG have jointly expressed an interest in a 15 percent project stake, Gazeta.ru reports.
Important parts of the Yamal LNG project is managed from Se-Yakha, a village located about 160 km south of the Sabetta port. Here, Novatek is currently unfolding a massive construction of houses for project personnel. According to RIA Novosti, a total of seven thousand square meters of housing will be erected by the end of 2012.