Rosneft buys 51 percent of “Pechora LNG”

The Russian state oil company Rosneft buys the majority of “Pechora LNG”. Rosneft is going to own 51 percent of the company and former main share holder Alltek is left with 49%.

The company intends to develop the gas fields Kumzjinskij and Korovinskij, which have estimated total reserves of 160 billion cubic meters. The volume of investment in the planned LNG plant in Indiga, the pipelines and terminal facilities, are estimated to be between 12 and 17 billion USD.

The project will be completed in 2018-2019, according to the present plans.

Source: Vedomosti / Team Norway Nordvest Russland