Stroitransgaz’s Arctic terminal may cost $1 billion

An Arctic oil terminal that OAO Stroitransgaz will build for OAO Gazprom Neft’s Novoportovskoye field may cost $1 billion, RBC Daily reported, citing several analysts’ estimates.

Stroitransgaz said it won the contract as head of a group of companies that includes shipper OAO Sovkomflot, Simferopol- based Institute Shelf and Van Oord Offshore BV of the Netherlands. Stroitransgaz didn’t specify the contract cost in a statement on its website yesterday.