Russian gas independent Novatek said it has “edged closer” to building a new liquefied natural gas facility in the country’s far east after authorities agreed to partially bankroll its plan to build an LNG transshipment facility in the region.

The plan, which was preliminarily approved in August, calls for the gas producer to install and operate a floating storage and regasification unit near the regional capital, Petropavlovsk-Kamchatsky.

The FSRU will be capable of providing up to 500 million cubic metres per annum of gas to the city, thus fully removing the need for local authorities to import fuel oil and diesel that are commonly used to generate electricity and for residential heating.

Petropavlovsk-Kamchatsky has a population of about 180,000 people, 85 percent of all residents in the Kamchatka region.

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23rd October 2020