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The government will give 3,5 billion rubles to the LNG terminal in Kamchatka

The government will give 3,5 billion rubles to the LNG terminal in Kamchatka

The government will allocate 3,5 billion rubles from the federal budget for the construction of the NOVATEK's marine transshipment complex of liquefied natural gas in the Kamchatka Territory. The order was signed by the head of the Cabinet of Ministers, Mikhail Mishustin.

Funding will be allocated this year. As noted in disposition, for the construction of the LNG terminal in Kamchatka, the budget allocation of Rosmorrechflot will increase by 3,5 billion rubles as part of the subprogram “Sea and river transport” of the state program “Development of the transport system”.

By the end of 2022, NOVATEK intends to build a transshipment terminal in Bechevinskaya Bay in Kamchatka, where liquefied gas will be loaded from ice-class gas carriers to LNG tankers. NOVATEK needs the LNG offshore transshipment complex to reduce the number of expensive ice tankers for passage along the Northern Sea Route.

The company twice asked the government for support, at first it was about 28 billion rubles, but the authorities could not find money for this project and did not include it in the budget for 2020-2022. Then the amount decreased up to 20 billionbut the government reiterated that there was no money.

At the end of last year, authorities decided on the sources priority infrastructure financing for NOVATEK's projects in Kamchatka and Murmansk. The total cost of the federal part of the projects will amount to 168,5 billion rubles. Financing is necessary for the construction of a federal infrastructure - a berth and other facilities that a private investor cannot legally own.

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