By the beginning of September 2013 private investors had already invested more than 60 billion rubles in the Yamal LNG project, RF President Vladimir Putin said at the meeting on creating modern facilities for the production of liquefied natural gas on the Yamal Peninsula – the Yamal LNG project – and building the Sabetta seaport.
According to the records of the meeting held in Salekhard, Putin reminded that public funds are financing a number of infrastructure projects, including Sabetta airport, which is due to open in 2014..
“The federal budget has also set aside nearly 47.3 billion rubles for the construction of a seaport. These funds will finance dredging the waters of the future port in order to create a navigable channel in the Gulf of Ob, something that is already underway. All of this will enable private investors to start building port terminals as of 2014”, Putin said.
According to the President, experts predict that the production of liquefied gas, 5.5 million tonnes, is expected to start in 2017. By this time the Sabetta port should begin handling and shipping hydrocarbons.
Putin emphasized that compared with 2011, the amount of traffic along the Northern Sea Route increased by 53% in 2012, and exceeded 1.26 million tonnes. In 2013, this figure has already reached 1.5 million tonnes. By 2015, volumes are projected to reach 4 million tonnes. The construction of a modern Arctic port would consolidate this trend, he said.
Yamal LNG project envisages the construction of an LNG plant with annual capacity of 16.5 million tons per annum based on the feedstock resources of the South-Tambeyskoye field. According to the PRMS reserve standards, the proven and probable reserves of the South-Tambeyskoye field as of 31 December 2012 were appraised at 907 billion cubic meters of natural gas. The Project also requires the construction of transport infrastructure including a sea-port and an airport located at Sabetta (north-east of the Yamal Peninsula).
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