Japanese Firms Interested in Novatek's New LNG Project

Japanese companies are interested in investing in Novatek’s new LNG project, according to company’s head Leonid Mikhelson.

Mikhelson was in Tokyo to attend ‘Trade and Industrial Dialogue: Russia-Japan’, reported Russia’s TASS news agency.

He stated that it was too early to talk about the amount Japanese firms will invest in these new projects. However, he made it clear that Novatek will have the controlling stake.  

These companies will be able to participate in the project as investors, engineering companies and suppliers, TASS quoted Mikhelson as saying.

The Arctic LNG project includes the construction of a new LNG plant in the port of Sabetta, where a plant for Yamal LNG project is already under construction. Gas will be supplied from Salmanovskoye (Utrenneye) and Geofizicheskoye oil and gas fields which are located on the Gydan Peninsula. The construction is scheduled to commence 2018.