26.06.2023, 11:10
The Russian gas project has sharply risen in price due to lack of equipment
Source: OREANDA-NEWS
OREANDA-NEWS The cost of the Arctic LNG-2 natural gas liquefaction plant project has grown to about $ 25 billion, although Novatek previously estimated costs at $21.3 billion. Kommersant writes about this with reference to its own sources.
The sharp rise in price is due to the need to replace equipment that previously had to be provided by Western suppliers. So, they wanted to buy gas turbines for the LNG process and electricity supply from the American Baker Hughes, but she managed to supply only four units. For the rest of the work, it is necessary to purchase turbines in China.
The head of Novatek, Leonid Mikhelson, explaining why the equipment was not ordered in Russia, pointed out that Russian factories are already overloaded. So, it is possible to get the necessary turbine, for example, for UEC-Perm Motors only after 2030. At the same time, Mikhelson did not name the amount of additional funds that the project would require, but said that it would definitely cost more than $ 22 billion. However, the businessman hopes to save on operating costs.
Additional funds should be provided by the shareholders of the project, although one of them — the French TotalEnergies — previously refused to invest in Russia. Nevertheless, the company cannot withdraw its money from the country, so it is possible that they may be invested in Arctic LNG-2.
The sharp rise in price is due to the need to replace equipment that previously had to be provided by Western suppliers. So, they wanted to buy gas turbines for the LNG process and electricity supply from the American Baker Hughes, but she managed to supply only four units. For the rest of the work, it is necessary to purchase turbines in China.
The head of Novatek, Leonid Mikhelson, explaining why the equipment was not ordered in Russia, pointed out that Russian factories are already overloaded. So, it is possible to get the necessary turbine, for example, for UEC-Perm Motors only after 2030. At the same time, Mikhelson did not name the amount of additional funds that the project would require, but said that it would definitely cost more than $ 22 billion. However, the businessman hopes to save on operating costs.
Additional funds should be provided by the shareholders of the project, although one of them — the French TotalEnergies — previously refused to invest in Russia. Nevertheless, the company cannot withdraw its money from the country, so it is possible that they may be invested in Arctic LNG-2.
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