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Chiyoda joins Russian LNG plant project

TOKYO -- Chiyoda will participate in construction of what is expected to be Russia's largest liquefied natural gas plant.

     The Japanese engineering company will work with compatriot JGC and France's Technip, which have already won an order for the site's basic design, to handle everything from design through equipment procurement and construction.

     The consortium will build a facility at which Russian gas company Novatek will liquefy and export natural gas. The plant will be located on the eastern shore of the Yamal peninsula in western Siberia, with construction slated to begin by 2015.

     The project is valued at around 1.5 trillion yen ($14.56 billion). Half of that will go to Technip with the remaining half split between the two Japanese engineering companies, who will be responsible for peripheral equipment such as storage tanks and piping.

    When completed, the plant will be able to produce 16.5 million tons of LNG annually -- the equivalent of roughly 20% of Japan's annual LNG imports. Novatek will export the LNG to Spain and Asian countries such as China.

     The goal is to have the facility in operation from 2016, but delays are anticipated due to the Ukraine issue and the Yamal peninsula's frigid winter temperatures.

(Nikkei)

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