Kamchatka is closer to key LNG markets China, Japan and South Korea than competing projects in Australia and Qatar
Russia’s Arctic LNG 2 advances
Contract award for the construction of a transshipment terminal is a step forward for the project
Russian state-owned Rosmorport has contracted a Chinese firm to help construct an LNG transshipment terminal in Russia’s Far East in support of Russian independent Novatek’s Arctic LNG 2 project. China Communications Construction Company will dredge Bechevinskaya Bay in Kamchatka and design and construct the planned 21mn t/yr terminal. The facility will serve as a storage site for LNG shipments bound for the Pacific. Another transshipment terminal with the same capacity will also be built in Ura Bay, around 40km from Murmansk. Both terminals will be operational by the time Arctic LNG 2 starts up in 2023, says Novatek CFO and deputy chairman Mark Gyetvay, who adds there is also the option of
Also in this section
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
