During an official ceremony, Russian President Vladimir Putin formally started the Cryogas-Vysotsk LNG project, which has commenced full scale production of liquefied natural gas. The project is a joint venture between NOVATEK and Gazprombank Cryogas-Vysotsk.
Cyrogas-Vysotsk is a medium scale LNG project located in the port of Vysotsk, Leningrad Region of Russia. The initial capacity is 660,000 tons per annum. It includes a 42,000 cubic meter storage tank and an offloading berth for vessels up to 30,000 cubic meters.
NOVATEK acquired a 51% interest in the project in July 2017. As NOVATEK’s first medium-scale LNG project, the company hope to expand their presence in the transportation fuel market as demand for cleaner fuel sources to comply with emissions regulations increases.
