Yamal-Nenets Autonomous Okrug will present the project “Energy of the Arctic” on the Saint Petersburg Economic Forum

Yamal-Nenets Autonomous Okrug will present the project “Energy of the Arctic” on the St. Petersburg International Economic Forum (SPIEF).

Also it is planned to sign some framework agreements on joint projects with the company “NOVATEK” and on cooperation in several spheres with Chelyabinsk Oblast. In plans there are working meetings with leaders of agencies on investments into social projects of Yamal-Nenets Autonomous Okrug and on support of the business community, as tass.ru reports. SPIEF will be conducted from the 1st to the 3rd of June in Saint-Petersburg under the motto “In search for new balance in the global economy”.
The project “Energy of the Arctic” foresees construction of the Northern Latitudinal Railway, which will connect Yamal with the Urals and the north-west of Russia and will provide communication of Russia’s transport system through the port of Sabetta with the Northern Sea Route. The length of the railroad line will make 707 kilometers. The project aims at development of port and transport infrastructure, construction of the gas-transporting system of the Yamal Peninsula. The Northern Latitudinal Railway will provide access to the arctic shelves, will make their development possible and will connect the main hydrocarbon fields in the North with transport arteries of the country. It will provide the shortest year-round transit of natural resources to markets in Europe, North America and countries of Asia-Pacific cooperation.
NOVATEK fulfills the project “Yamal LNG” on building of the plant on liquefying of natural gas with the capacity 16 million and 500 thousand tonnes per year on resource base of the South-Tambey field. The beginning of production of liquefied natural gas is planned for 2017. The cost of the project is estimated in 27 milliard dollars. The shareholders of the project are: NOVATEK (50.1%), Total, CNPC (20% each) and the Silk Road Fund (9.9%).