India's potential participation in Arctic LNG 2 would benefit both parties - Manturov

NEW DELHI. April 18 (Interfax) - Indian companies' potential participation in the Arctic LNG 2 in Russia could benefit both parties, Russian Deputy Prime Minister -Minister of Industry and Trade Denis Manturov said.

"But this is, among other things, already a matter of inter-corporate negotiations. We welcome such expansion of cooperation," Manturov told reporters.

The $21.3 billion Arctic LNG 2 project on the Gydan Peninsula in the Yamalo-Nenets Autonomous District involves the construction of three liquefied natural gas production trains with capacity of 6.6 million tonnes per year each. The gravity based structures (GBS) for the project will be built in the Murmansk region and then towed to the Gydan Peninsula, near the Salmanovskoye field that will be the resource base for the LNG plant.

Novatek owns 60% of the project. France's TotalEnergies , China's CNPC and CNOOC, and a consortium of Japan's Mitsui & Co. and JOGMEC each hold 10% stakes in the project.