March 28, 2019 / 1:52 PM / 21 days ago

Russia to allocate funds in 2021-2022 for an LNG terminal

MOSCOW, March 28 (Reuters) - Russian President Vladimir Putin ordered an allocation of budget funds in 2021-2022 for the construction of the Utrenny liquefied natural gas (LNG) terminal in the Russian port of Sabetta on the Northern Sea route, the Kremlin said on its website.

The budget money will also be used to reconstruct a navigable channel in the Gulf of Ob in the Kara Sea.

The Utrennee gas field is developed by Russian gas giant Novatek and serves as a resource base for the Arctic LNG-2 project. (Reporting by Andrey Kuzmin Writing by Polina Nikolskaya Editing by Andrey Kuzmin and Emelia Sithole-Matarise)

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