russia looks to overtake qatar with 27bn lng project
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

Russia looks to overtake Qatar with $27bn LNG project

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleRussia looks to overtake Qatar with $27bn LNG project

President Vladimir Putin
SABETTA - Muslimchronicle

President Vladimir Putin on Friday launched a $27 billion liquefied natural gas plant in the Siberian Arctic as Russia hopes to surpass Qatar to become the world’s biggest exporter of the chilled fuel.
“This is a large-scale project for Russia,” Putin said at the official ceremony in the port of Sabetta on the Yamal peninsula beyond the Arctic Circle.
The centerpiece of the event was the loading of the first gas shipment onto an icebreaking tanker from the Yamal LNG plant, with temperatures of minus 28 degrees Celsius outside.
For the project, Russia’s privately owned gas producer Novatek partnered with France’s Total and China’s CNPC.
The tanker that will carry the first shipment was named after Christophe de Margerie, the former Total CEO who died in an accident on the runway of a Moscow airport in 2014.
White whiskers have been painted on it in honor of the late CEO, who was known for his white bushy moustache.
“I congratulate you all on the first loading of the cargo tanker which is named after our friend Christophe de Margerie,” Putin said, praising him as “one of the trailblazers for this project.”
“At the start of the project, people told me not to pursue this. Those who started this project took a risk but achieved a result,” Putin added, thanking the project’s international participants.
“Without their participation, without them trusting their Russian friends, this project would not have got off the ground — this concerns both the financing and the technology.”
The $27 billion project is set to start with a production capacity of 5.5 million tons per year and increase to 16.5 million tons by the start of 2019.
“Without a doubt Russia not only can but will become the largest producer of liquefied natural gas in the world,” Putin said in March.
“We have everything for it.”
Qatar is currently the world’s biggest exporter of liquefied natural gas.
Russia, the world’s biggest gas exporter, derives a huge share of income from pipeline deliveries to Europe.
With Yamal LNG, the country intends to strengthen its market presence in Asia and demonstrate its capacity to exploit huge Arctic reserves despite major technological challenges.
Dmitry Monakov, the project’s first deputy director, said that producing LNG in permafrost was easier than in warmer climes, an apparent dig at countries like Qatar.
“Nature itself helps us to more effectively liquify gas with the help of such low temperatures,” he told AFP, adding that the plant effectively sat on a gas field so transportation costs were low.
Patrick Pouyanne, Total chairman and CEO, praised the project’s “remarkably low upstream costs.”
“Together we managed to build from scratch a world-class LNG project in extreme conditions to exploit the vast gas resources of the Yamal peninsula,” he was quoted as saying in a company statement.
Despite the project’s completion, Yamal LNG still faces risks, analysts said.
Lussac of Wood Mackenzie said that the coming months will show “whether the plant can operate smoothly in the harsh Arctic environment.”
Transportation through the Northern Sea Route also remains undeveloped, and “its feasibility as a major LNG delivery route is unclear,” he added.
Russia hopes the route will become an easier path to coveted Asian markets, with the LNG project contributing to understanding of how to navigate the Northern Route.
The route along the northern coast of Siberia allows ships to cut the journey to Asian ports by 15 days compared with the conventional route through the Suez Canal, according to Total.

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

russia looks to overtake qatar with 27bn lng project russia looks to overtake qatar with 27bn lng project

 



Themuslimchronicle, themuslimchronicle

GMT 09:08 2017 Monday ,18 December

Lufthansa wants to 'destroy' Niki airline

GMT 08:31 2017 Tuesday ,07 March

Deutsche Bank drags European equities lower

GMT 10:56 2017 Sunday ,17 December

Shikhar sure India won’t wilt under the pressure

GMT 10:08 2017 Friday ,15 September

Pakistan's fatal attraction to celebratory gunfire

GMT 21:43 2017 Thursday ,09 February

Al Attiyah left Tunisia to Genève

GMT 08:59 2018 Monday ,08 January

Europe casts a wary eye on China's Silk Road plans

GMT 10:05 2016 Monday ,10 October

Trump's locker-room comment riles US athletes

GMT 13:59 2011 Wednesday ,27 July

Journalist Salameh at death’s door

GMT 11:37 2017 Saturday ,23 December

Major powers seek to hold Sochi congress

GMT 03:03 2016 Tuesday ,28 June

'I'm still alive' jokes Queen Elizabeth

GMT 17:29 2017 Saturday ,09 September

Chloe Gosselin appoints Emma Beckett PR

GMT 14:06 2017 Tuesday ,19 September

Aurelia Probiotic Skincare launches Christmas Candles

GMT 08:47 2017 Tuesday ,19 December

Singer Haifa Wahby launches new clip

GMT 07:11 2017 Thursday ,07 September

World Cup failure puts Qatar back in spotlight

GMT 20:58 2016 Wednesday ,30 November

October 23 - November 21

GMT 15:49 2016 Saturday ,26 March

2 executed for murder in Dammam 

GMT 09:59 2017 Wednesday ,15 February

NBC to take stake in Euronews in global push

GMT 01:50 2016 Saturday ,24 September

23rd Tokyo International Book Fair kicks off
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle