Novatek to complete small-scale LNG plant in Togliatti SEZ in Q4 - authorities

SAMARA. Feb 21 (Interfax) - Novatek LNG Fuel Togliatti LLC intends complete construction of a small-scale liquefied natural gas (LNG) plant in the Togliatti special economic zone (SEZ) in the fourth quarter of 2023, the press service of the Samara regional government told Interfax.

The company, which is a resident of the SEZ, has already begun construction work. The plant's future production capacity has not been disclosed because this information is confidential.

The regional Economic Development and Investment Ministry said on its website that the future plant will enable businesses in the region to use LNG to efficiently convert automobiles to a more economical fuel. The region also expects additional transit traffic.

Novatek CEO Leonid Mikhelson and Samara Governor Dmitry Azarov signed the investment agreement on the construction of the plant at the St. Petersburg International Economic Forum in the summer of 2022. Investment in the project will total about 2 billion rubles.

The Togliatti SEZ, which was created in 2010, now has 31 resident companies with declared investment of 45.1 billion rubles and plans to create 6,768 jobs.

Novatek LNG Fuel Togliatti LLC was registered in September 2021 and is a subsidiary of Novatek LNG Fuel, Novatek's subsidiary for developing Russia's domestic LNG market and retail sales of the fuel.