Project Profile

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Location: Russia
Value: US$1.5 billion
Capacity: 20 mtpy
Storage Tank: 360,000 cbm
Operation start-up: 2022-2023
Novatek plans to invest up to US$1.5 billion to build a liquefied natural gas transshipment terminal on Kamchatka Peninsula in the Russian Far East. The company is currently looking into two options for the location of the LNG hub, namely the Avacha Bay and the Bechevinskaya Bay, for the Development of the Russian Far East. The project includes the construction of dedicated storage tanks with a capacity of 360,000 cbm of LNG, the biggest ever built. It is expected that the faclilty will be able to handle up to 20 million tonnes per year. The construction of the LNG hub is scheduled to be completed in 2022-2023.
Novatek signed a cooperation agreement with the regional government of Kamchatka on building the facility in October 2017. It also signed a memorandum of understanding with Japan’s Marubeni Corporation and Mitsui O.S.K. Lines (MOL), for the LNG transshipment project. The facility would allow Arctic ice-class tankers to transship LNG onto conventional tankers. It would also create conditions for Kamchatka’s gasification, using the boil-off gas from the reloading terminal to generate power and support utility industries on the peninsula.
Operator:
Novatek: 100% interest