24 Jun 2022 08:53

Five Arctic investment project to get 1.4 bln rubles subsidies in 2022

MOSCOW. June 24 (Interfax) - The Presidium of the State Commission for Arctic Issues has approved subsidies of 1.4 billion rubles for five Arctic investment projects in 2022, the press office of First Deputy Russian Prime Minister Yury Trutnev said on Thursday.

"The issue of subsidizing interest on loans for investment projects in the Russian Arctic was raised. Due to a significant increase in Bank of Russia's key rate, entrepreneurs carrying out investment projects have faced an increase in the cost of borrowing. To support businesses, a program has been drafted to subsidize interest rates for investors implementing projects in the Arctic," the press office said.

"A decision was reached on possible subsidies totaling 1.4 billion rubles in 2022 for five investment projects. Projects for the development of the Kharbeyskoye oil and gas condensate field in the Yamal-Nenets Autonomous District and the construction of an airport complex in the city of Novy Urengoy, the creation of a gas-chemical complex in the Nenets Autonomous District, the construction of the Lavna coal transshipment complex in the seaport of Murmansk, and the development of the Syradasayskoye coal deposit in the Krasnoyarsk Territory received support. Total investment in these projects will be 573 billion rubles. Their implementation will create more than 2,000 jobs," it said.

The Kharbeyskoye field is operated by Novatek ; it was commissioned in 2021, with annual production levels of 3.6 billion cubic meters of natural gas and 0.6 million tonnes of gas condensate.

The airport of Novy Urengoy was built in 1980 and is the largest air transport hub in the Yamalo-Nenets Autonomous District, serving more than 50% of all air traffic in the region.

Ruskhim (50% is owned by former deputy Vitaly Yuzhilin and 25% each by Gennady Mirgorodsky and Stolichnaya Trust Company Ltd., founded by Dmitry Ozersky) is planning to build a gas and chemical complex in Nenets Autonomous District. The project involves the development of gas condensate fields, construction of a methanol plant with a capacity of 1.8 million tonnes per year on the basis of LLC Pechora LNG, and a port terminal near the settlement of Indiga with access to the Northern Sea Route.

The majority owner of LLC Lavna Commercial Seaport (the operator of the port construction project) with a 60% stake is JSC Port Infrastructure Development Center. SDS-Ugol Holding Company JSC, RZD-Infrastructure Projects JSC and STLC (project concessionaire) own 25%, 10% and 5% respectively.

The project for development of the Syradasayskoe coal deposit located 110 km southeast from the Dickson settlement is being implemented by Severnaya Zvezda (a part of Roman Trotsenko's AEON holding). The project includes the creation of a coal mine with the capacity of 5 million tonnes per year at the first stage and 10 million tonnes per year at the second stage, the construction of a coal preparation plant and the creation of the necessary infrastructure.