Russia and China Developing Joint Arctic LNG Project

VLADIVOSTOK, September 4. /TASS/. Russia and China are currently developing a joint liquefied natural gas (LNG) project in the Arctic, Russian Deputy Prime Minister Alexander Novak said during a meeting of the Russian-Chinese intergovernmental commission on energy cooperation.

"A joint project to extract and liquefy gas in the Arctic zone is under development, and so is the project to build an ethane-containing gas processing facility on the Baltic Sea," he said.

China’s CNPC and CNOOC (each of them with the 10% stake) are now participating in the Arctic LNG 2 project of Novatek. CNPC and the Silk Road Fund with 20% and 9.9% stakes respectively are shareholders in the Yamal LNG project.

Earlier, Russian Energy Minister Sergey Tsivilyov said Chinese companies were discussing participation in Novatek’s new projects.

The Eastern Economic Forum is taking place on September 1-4 in Vladivostok on the campus of the Far Eastern Federal University. The main theme of this year’s EEF is "The Far East: Development for the Benefit of People." The event is organized by the Roscongress Foundation with the support of the Russian government. TASS is its general information partner.