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Principale » Russia's Novatek head says discussed gas projects with Saudi representatives

Russia's Novatek head says discussed gas projects with Saudi representatives

10 Décembre 2017

"If we continue to work in the same way, then we will be turning from competitors into partners, and everyone will only benefit from this joint work", Putin said.

Putin recognized the worldwide nature of the project by thanking the foreign financiers and manufacturers who made Yamal LNG possible, and said that he "count [s] on them continuing to work together".

Leonid Mikhelson, the owner of Russia's largest private gas producer Novatek, said on Friday he had discussed gas projects with Saudi Arabia's representatives. He was speaking at the ceremony of loading the first cargo from the Yamal LNG plant.

It will also add to the current drama over U.S. recognition of Jerusalem as Israel's capital, which has seen Saudi Arabia - a close ally of Washington - slam Donald Trump's decision.

Yamal LNG, which is 20% owned by France's Total, aims to help Russian Federation double its share of the global LNG market from about 4% now by 2020. The $27 billion endeavour taps into the equivalent of 4 billion barrels of natural gas underneath the Russian Arctic. Other phases are due to come on stream in 2018 and 2019.

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"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. Shell holds a 20 percent stake in the project on the Pacific island of Sakhalin. Three trains will have a capacity of 5.5 million tons each and one will have a capacity of 1 million tons.

Russian Federation is looking to open new gas fields and selling to the worldwide market - particularly China - after Western sanctions over Moscow's intervention in Ukraine piled economic pressure on Putin.

Samuel Lussac, oil and gas specialist at Wood Mackenzie consultancy, said: "Despite challenging operating conditions, Yamal LNG was delivered on time and on budget".

Russia, the world's biggest gas exporter, derives a huge share of income from pipeline deliveries to Europe.

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.

Russia's Novatek head says discussed gas projects with Saudi representatives