AFP, Vladivostok :
President Vladimir Putin sought to lure Asian investment to Russia’s Far East on Thursday as the launch was announced of a huge Arctic gas project aimed at Asian markets.
Hosting leaders including Japanese Prime Minister Shinzo Abe and Indian Prime Minister Narendra Modi in the Pacific port city of Vladivostok, Putin lauded Russia’s Far East as a destination for investment.
The region is full of “hardworking, energetic people”, “industries of the future” and “the richest reserves of natural resources”, Putin said.
“Take advantage of these opportunities,” he told a plenary session of the Eastern Economic Forum.
Moscow has hosted the forum every year since 2015 as it looks to bolster ties with Asia amid tensions with the West.
Russian gas firm Novatek announced at the forum the launch of a major liquefied natural gas project in the Arctic with Chinese, French and Japanese partners.
Novatek said a final decision had been made on financing the $21 billion Arctic LNG 2 project with partners including France’s Total, CNPC and CNOOC of China, and a Japanese consortium of Mitsui & Co and JOGMEC.
The project will see the development of a gas field and the building of a liquefaction plant on the Gydan Peninsula in Russia’s Arctic, with exports starting in 2023.
It is the second launch of a major project for Novatek in the Arctic in the last three years as Russia – already the world’s biggest gas exporter -looks to develop LNG shipments to energy-hungry Asian markets.
Russian petrochemicals firm Sibur also announced a deal Thursday for gas giant Gazprom to supply it with liquefied petroleum gas for a new plant on the border with China that will produce polymers for Chinese plastic production.
President Vladimir Putin sought to lure Asian investment to Russia’s Far East on Thursday as the launch was announced of a huge Arctic gas project aimed at Asian markets.
Hosting leaders including Japanese Prime Minister Shinzo Abe and Indian Prime Minister Narendra Modi in the Pacific port city of Vladivostok, Putin lauded Russia’s Far East as a destination for investment.
The region is full of “hardworking, energetic people”, “industries of the future” and “the richest reserves of natural resources”, Putin said.
“Take advantage of these opportunities,” he told a plenary session of the Eastern Economic Forum.
Moscow has hosted the forum every year since 2015 as it looks to bolster ties with Asia amid tensions with the West.
Russian gas firm Novatek announced at the forum the launch of a major liquefied natural gas project in the Arctic with Chinese, French and Japanese partners.
Novatek said a final decision had been made on financing the $21 billion Arctic LNG 2 project with partners including France’s Total, CNPC and CNOOC of China, and a Japanese consortium of Mitsui & Co and JOGMEC.
The project will see the development of a gas field and the building of a liquefaction plant on the Gydan Peninsula in Russia’s Arctic, with exports starting in 2023.
It is the second launch of a major project for Novatek in the Arctic in the last three years as Russia – already the world’s biggest gas exporter -looks to develop LNG shipments to energy-hungry Asian markets.
Russian petrochemicals firm Sibur also announced a deal Thursday for gas giant Gazprom to supply it with liquefied petroleum gas for a new plant on the border with China that will produce polymers for Chinese plastic production.
