gas giants Gazprom and Novatek recently agreed to construct
liquefied natural gas (LNG) terminals on the Yamal Peninsula in
projects would further the Russian
government's plan to export more gas to Asia in light of
falling demand and regulatory uncertainty in Europe.
two new terminals would be located near Novatek's proposed,
16.5-million-ton-per-year (MMtpy) LNG facility on Yamal, which
it is building in partnership with France's Total. The
collective capacity of both terminals would eventually breach
and Total have requested the right to market LNG directly to
customers without assistance from Gazprom, which has a monopoly
on Russian gas exports. The Russian government is still
reviewing the companies' proposal.
present, Russia has only one operating LNG plantthe
10-MMtpy liquefaction terminal run by Gazprom and Royal Dutch
Shell on Sakhalin Islanddespite being the world's largest
producer of conventional gas.