Leonid Mikhelson's project will not receive funds from the National Welfare Fund,

30.03.2024       

The government is not currently considering allocating funds from the National Welfare Fund for new fuel and energy projects, including Murmansk LNG. Russian Deputy Prime Minister Alexander Novak told reporters about this.

"At the moment, such directions of funds from the National Welfare Fund are not being discussed. Decisions have already been made, [projects] are being implemented,” he said.

In February it was reported that the project for the construction of a complex for processing ethane-containing gas in Ust-Luga worth 4.915 trillion rubles was included in the list of funds to be sold at the expense of the National Welfare Fund, from which it will be financed by 900 billion rubles.

Previously, the head of Novatek Leonid Mikhelson reported that the company plans to begin construction of Murmansk LNG. from August 2024, when the Center for the Construction of Large-Capacity Offshore Facilities in the Murmansk Region will complete the construction of the second stage of Arctic LNG - 2.

"Novatek" plans to build a natural gas liquefaction plant in the Murmansk region of three lines of 6.8 million tons each. The first may start operating in 2027, the second - in 2029.

"Murmansk LNG" will use electricity from the surplus Kola Nuclear Power Plant, and gas from the plant can be exported by tankers without ice class. "Novatek" I intend to use my own resource base for the project.

TASS

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