facebook
twitter
rss
account
search
search
 

Gazprom, Novatek discuss arctic LNG

Jan. 11, 2013 at 9:33 AM   |   Comments

MOSCOW, Jan. 11 (UPI) -- Russian energy company Gazprom said it set up a joint venture with independent gas producer Novatek for the production of LNG from the Yamal Peninsula.

"The joint venture will carry out pre-front end engineering and design studies, elaborate project documents, work out a plan for the liquefied natural gas plant construction and a joint program for development of the fields where the company will act as an operator for the facilities development and arrangement," Gazprom said in a statement.

The companies signed a memorandum of understanding on LNG cooperation in April.

Gazprom officials in October met with authorities in the Yamal-Nenets area to launch production from the regional Bovanenkovo gas field in the Russian arctic. Gazprom estimates the field could produce as much as 4 trillion cubic feet of natural gas by 2017 and eventually account for 25 percent of the gas monopoly's output.

Greenpeace campaigners expressed concern about the project.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Apple sells 10 million new iPhones during the first weekend Apple sells 10 million new iPhones during the first weekend
2
Gazprom: Hungary ready for South Stream Gazprom: Hungary ready for South Stream
3
Starbucks testing a latte that tastes like beer Starbucks testing a latte that tastes like beer
4
Iraq relying on oil wealth from Basra Iraq relying on oil wealth from Basra
5
Arctic oil bound for Europe, Gazprom Neft says Arctic oil bound for Europe, Gazprom Neft says
Trending News
Video
x
Feedback