25 Oct 2019 11:51

Govt might invest less than 30 bln rubles in Kamchatka LNG terminal - Novatek

VERONA. Oct 25 (Interfax) - Novatek expects that the Russian government's investment in the LNG terminal on the Kamchatka Peninsula will be 30% less than the announced 30 billion rubles, the Russian gas producer's CEO, Leonid Mikhelson told reporters.

"The figure [for state investment] in the government resolution is currently about 30 billion rubles. The design work is nearing completion and will soon be submitted to [state expert review office] Glavgosexpertiza. We expect that this documentation will be prepared before the end of the year so it can already actually be included in the budget. And we expect that the figure...I said about 30 [billion] just now, will be about 30% lower than this stated figure," Mikhelson said.

He also said that he expects the government to complete work on expanding the access channel to the Sabetta Port in 2022.

If everything goes well, it is possible to already have documentation that has undergone evaluation by the fall, he said. "We need to find some sort of options even for some sort of preliminary work, and to start work next year, because, in principle, it can be done in two years but it will already be risky. This is the worst bottleneck in this program," Mikhelson said.