5 Sep 2022 11:23

Starway, Gazprom, RossOil to build LNG plants, oil terminal in Yakutia for 6 bln rubles

VLADIVOSTOK. Sept 5 (Interfax) - RossOil LLC, Starway Group and Gazprom LNG Technologies LLC have reached an agreement with the Far East Development Corporation (FEDC) and Yakutia's Investment Promotion and Export Support Agency on the construction of liquefied natural gas (LNG) plants and an oil terminal, the FEDC reported after the signing of the agreement at the Eastern Economic Forum.

The facilities will be built in the village of Pavlovsk, in Yakutia's Megino-Kangalaksky district. Investment in the project will total 6 billion rubles.

"The project is particularly significant not only in terms of exports, but also as an important logistics hub that will make it possible to supply remote areas of the north," FEDC managing director Sergei Skaly was quoted as saying in the press release.

It was reported earlier that Starway Group planned to invest about 3 billion rubles in Yakutia's forestry sector, as well as build a dock in Pavlovsk at a cost of 2.2 billion rubles.

Starway Group, the core company of which is Moscow-based Starway Logistics LLC, was founded in 2011. The group now includes 12 businesses that provide a broad range of transport and logistics services in various parts of Russia.

RossOil LLC is a fuel trader, also founded in 2011.