Russia approves €1 billion LNG transshipment terminal on Kola coast
The hub, along with a Pacific Ocean one in Kamchatka, will allow Novatek to ship LNG more cheaply and efficiently.
The Russian federal government intends to spend 70 billion rubles (€965 million) on the construction of a new major Arctic terminal for storage and reloading of LNG. The project investment plan was this week approved by Prime Minister Dmitry Medvedev. It is to stand ready for operations in year 2023.
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