Energy Ministry proposes to set up unified Russian EPC contractor for LNG, financing to support it
MOSCOW. May 6 (Interfax) - The Energy Ministry has proposed drawing up plans to create a unified LNG engineering center to function as the EPC contractor for development of Russian LNG production technologies, and provision of the center with financial support needed to enter the global market.
The proposal is included in a letter from the ministry to the government dated April 19, suggesting a set of stimulus measures for projects to build LNG plants, a source familiar with the letter told Interfax.
The source said an engineering center might provide services to all Russian oil and gas companies. "The letter, among other things, proposes to form a working group to develop the issue of setting up a Unified LNG Engineering Center with EPC contractor functions, bringing together the sector's R&D, design and construction organizations with the purpose of drafting, creAting and making LNG technologies available to all oil and gas companies on Russian territory," the source said.
"At the same time there are proposals to draft a mechanism to provide financial support and state guarantees for the Unified LNG Engineering Center as a universal contractor for LNG projects in Russia with a view to launching the contractor on the world market," the source said.