India has received its very first delivery from Russia’s Arctic LNG Plant. A tanker from the Arctic LNG plant has reached India; a great step towards Russia’s aim to expand its presence in the Asian market. Russia is aiming to expand its geographical supply region and the Arctic LNG plant will help fulfil this goal.
Novatek, one of the largest producers of gas in Russia, is running the arctic LNG plant. The Arctic LNG plant includes the production of natural gas, liquefying process and shipment. The Arctic LNG plant is a joint venture between Novatek, National Petroleum Co. of China, Total from France and the Silk Road Fund. The majority of the stakes are owned by Novatek, 20% by Total and China’s corporation and 9.9% by the Silk Road Fund.
The Arctic LNG Plant is a $27 billion Project
Russia’s arctic LNG plant, in Yamal, is open for operations and the first tanker was launched by President Putin in December last year. The tanker has a capacity of 173,000 cubic meters. It is a $27 billion worth project with 3 production lines and an overall capacity of 16.5 million tons of Liquefied Natural gas, annually.
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Arctic LNG Plant Successfully Shipping Large Orders
The Arctic or Yamal LNG plant has already made shipments of over a million tons of LNG. 4 new LNG carriers are making rounds to and fro from the base, with 11 more carriers under construction. The carriers are highly advanced with an impressive ice-breaking capacity and are capable of making rounds all-round the year from the North Sea route in the Arctic waters of Russia.
After the success of the Yamal LNG plant, an Arctic LNG 2 is being planned. The second project is slated to have a total capacity of approximately eighteen million tons. Of LNG annually. The first LNG train is also being planned and expected to begin construction work in 2022-23.