The private company Novatek, which received 150 billion rubles from the state, took up the implementation of the project. It is worth noting that Yamal LNG was built ahead of schedule and now the company is engaged in the construction of a second plant, but at its own expense.
Now it became clear that this decision was not only important for our country, but also fateful. The LNG market is growing rapidly, and the number of consumer countries is increasing. It is expected that in 10 years its volumes will double, and from next year there will be a shortage of products. This is due not only to the relative cheapness of liquefied gas, but also to its “environmental friendliness,” which has now become “fashionable” in Europe.
All this made us believe in the prospects of the LNG market and our state giants. So, Gazprom decided to expand its Sakhalin-2 project and reanimate Vladivostok LNG. In turn, Rosneft also decided to resume the old Far Eastern LNG project.
In addition, Russian engineering enterprises mastered and began to supply their own equipment to LNG plants. At the same time, domestic shipyards are building ice class gas carriers that have become popular.
However, despite all the advantages of the Yamal LNG plant, it also has a weak spot. Liquefied gas is delivered to Asia through expensive wiring by nuclear-powered icebreakers.
In order to make these deliveries more profitable, the construction of a transshipment terminal in Kamchatka will be required. Here, LNG will be loaded onto cheaper vehicles and delivered to Japan.
As you know, it is the Land of the Rising Sun today that is the largest consumer of liquefied natural gas in the world. This is precisely what played a key role in signing the agreement between Novatek and Japanese companies on the joint construction of terminals in Kamchatka and in the Murmansk region, which, of course, is beneficial for our country. Firstly, Russia will be able to diversify its gas industry, and secondly, to push out more expensive LNG supplied by the Americans from the region.
Not without “intrigues” by the main competitor - the United States, which imposed sanctions against Chinese carrier companies. The latter were supposed to carry out half of the gas transportation from Yamal LNG. However, as stated in Novatek, this will not affect the shipment. Moreover, such measures once again push Russia to support domestic shipyards and create its own fleet.
In general, our country has serious prospects in the struggle for the global liquefied gas market. According to preliminary estimates, thanks to timely measures taken, in the future the presence of Russian products in the LNG market may increase from a modest 4% to 25%.