Kola shipyard construction is among priority NOVATEK’s projects

At the first meeting of the project office for development of the Arctic’s benchmark zone on the Kola Peninsula, the office members determined which projects are to be off the list, and which are to be put on the list. Thus, NOVATEK’s project to make a center in the Belokamenka village was put on the list, like projects of the region’s biggest companies - Kola GMK (Kola Mining & Metallurgical Company) and Apatit (mining and processing enterprise, extracting mineral raw materials for chemicals and fertilizers).

The priority list contains 20 projects, which are of biggest importance for development of the Russian Arctic.

NOVATEK plans to build a specialized shipyard to produce unique sea facilities – concrete gravity platforms for LNG plants, drilling and extraction platforms for the Arctic offshore projects and other large structures, TASS reports.

Earlier, the project received a status of a strategic investment project, thus offering the company special taxation benefits, which are estimated at more than 32 billion rubles ($532 million).

In summer 2016, Russia organized a special project office to develop the Arctic area by forming benchmark zones. The Murmansk region is a pilot project to form the Kola benchmark area. The project office features representatives of the federal and regional authorities, companies working in the Murmansk region, as well as scientific and research institutions.

NOVATEK is the largest Russian independent natural gas producer. On 27 May 2009, Novatek bought a 51% stake in Yamal LNG from Volga Resources, which controls the giant South-Tambeyskoye field. On 2 July 2010, Novatek purchased Tambeyneftegas, which holds the licence to the Arctic Malo-Yamalskoye field, located on the Yamal Peninsula and holding 161 billion cubic metres (5.7 trillion cubic feet) of natural gas and 14.4 million tonnes of gas condensate. Novatek and Gazprom plan to build a liquefied natural gas plant in Yamalo-Nenets Autonomous Okrug. Total S.A. will also be involved as a 20% shareholder. Together with Total S.A., Novatek is developing the Termokarstovoye field in Yamal.