Igor Sechin comes to the Barents Sea: Rosneft to buy Pechora LNG

Pechora LNG of Dmitry Bosov - the last Russian LNG project, which is not associated with state-owned companies or companies that are close to state investors - goes to Rosneft. According to the Kommersant, Alltech of Bosov and Rosneft may sign an agreement in the near future. The value of the asset is estimated at $400-500 million. The prospects of Pechora LNG were laid down by last year's law on liberalization of LNG export, which left private companies out in the cold, but in anticipation of the deal with Rosneft the Ministry of Natural Resources has reissued the project’s licenses. Concurrently an LNG terminal in non-freezing port of Indiga and other infrastructure can be built.

In the near future, Rosneft will announce its plans for the project Pechora LNG in the Nenets Autonomous District, the state-owned company’s head Igor Sechin reported. A source of the Kommersant that is familiar with the situation confirmed that the state-owned company, which was repeatedly called the main contender for the project, finally enters it. Rosneft and Alltech of Dmitry Bosov, which owns the project, declined to comment. A source that is close to one of the transaction parties said to the Kommersant that the agreement between the companies could be signed today. Another source of the Kommersant says that today Rosneft will sign with acting. Governor of the Nenets Autonomous District, Igor Koshin at least a framework agreement, under which the parties will consider the development of LNG projects in the region, including the plant and infrastructure.