Putin praised Michelson for the speed in Arctic development

Putin praised Michelson for the speed in Arctic development

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Tanker Christophe de Margerie

Photo: DSME

Vladimir Putin praised the co-owner of NOVATEK Leonid Mikhelson for efficiency in the implementation of the Arctic projects and promised to support “Yamal LNG”. Pace Russia will become the largest producer of liquefied natural gas in the world, said the President

In the port of Sabetta on the Yamal Peninsula, arrived LNG carrier of the highest ice-class Arc7 — Christophe de Margerie, this is the first of fifteen ships for the project Yamal LNG, which NOVATEK is building with foreign partners: CNPC, Total and China’s silk road Fund. Vladimir Putin did not attend the ceremony but congratulated the co-owner of NOVATEK Leonid Mikhelson and guests via video link. The President admitted he was pleasantly surprised by the pace of construction of the plant. “If we act in the same manner and at the same pace, which for me, frankly, somewhat surprising, of course, Russia is, without a doubt, not only can, but will become the largest producer of liquefied natural gas in the world,” — said the Russian leader. The state will encourage the development of the project, promised the President.

LNG carrier Christophe de Margerie built by the shipyard Daewoo Shipbuilding Marine Engineering (South Korea) and launched in October 2016. He became the founder of a new type of vessels Yamalmax. The vessel length is 299 m, width 50 m, the tanker independently can overcome the ice thickness of up to 2 m. Christophe de Margerie was named in honor of the deceased in Vnukovo the head of Total, according to Putin, “our great friend”. “It’s very symbolic, it will consolidate our relationship even on a spiritual level,” the President said.

Two plants NOVATEK

NOVATEK expects to launch the first private plant to produce liquefied natural gas in Russia “Yamal LNG” until the end of 2017, and by 2019 it should reach its maximum capacity of 16.5 million tons per year. The entire project is estimated at $27 billion, a 50.1% stake in NOVATEK, 20% Total and CNPC, 9.9%, and the Chinese silk road Fund. Putin thanked foreign partners NOVATEK for what they believe in the project and support it technologically and financially. “It is very important having in mind that world energy markets are now not the best weather, but we believe that the energy demand will increase, and we are working for the future”, — said the President.

In the coming weeks NOVATEK will sign a contract for the preparation of FEED (General engineering) project “Arctic LNG 2”, told reporters Leonid Mikhelson. This plant will be built on the basis of the Morning field and run in 2022-2023. Power can be more than 16.5 million tons, NOVATEK expects to reduce the cost of construction, including at the expense of Russian equipment. According to Michelson, the final investment decision is due in about a year and a half together with partners.

The resource base of Yamal and gydansky Peninsula will in 2030 to produce 78 million tons of LNG, and overall production in Russia may grow more than 10 times, to 119 million tons per year, evaluated NOVATEK in his presentation. To carry LNG can including along the Northern sea route: the distance from Sabetta to the nearest Japanese port is 9.2 thousand km, it can be overcome in 16 days, that is two times faster than through the Suez canal. March 30, Vladimir Putin instructed the government to study the issue of creating a separate structure for the development of the Northern sea route. “Pay particular attention to the Northern sea route (…). Changing ice conditions, the appearance of new modern ships makes it virtually year-round artery (…), and efficient and reliable, has a huge potential for the Russian and global economy,” the President said, speaking at the plenary meeting of the International Arctic forum in Arkhangelsk.

Arctic for foreigners

“We are open to broad partnerships with other States to implement large-scale mutually beneficial projects — from development of natural resources and the development of global transport corridors to science and the environment,” — said Putin at a meeting on Arctic development. The forecast hydrocarbon resources in the Russian seas is estimated at more than 100 billion tons of oil equivalent, but only in the depths of the Barents sea contain 2.8 trillion cubic meters of gas, said the President. In the Arctic zone of concentrated 40% of world’s gold reserves, 60% of the reserves of oil and gas, from 60% to 90%, etc., listed the President. “The total estimated value of mineral raw materials of the Arctic subsoil exceeds $30 trillion, two thirds of them is the cost of energy resources,” Putin said.

Before the imposition of sanctions in 2014, Russian companies have collaborated in the Arctic with Western partners. In particular, Rosneft and ExxonMobil has discovered in the Kara sea, a large Deposit of “Victory”, with total recoverable oil reserves of 130 million tons and gas 499,2 billion cubic meters After the imposition of sanctions partners changed. The Ministry of energy was actively involved in the Arctic Chinese investors, including CNOOC. “Gazprom Neft” on March 29 agreed on possible collaboration on offshore projects with ONGC. In the framework of this agreement, the company can conduct exploration at Dolginskoye field in the waters of the Barents (Pechora) sea, said Russian energy Minister Alexander Novak.