September 6, 2022 [Port News] –  The project will facilitate the delivery of oil products and let create a transport and logistics hub.

A five-party agreement on construction of a petrochemical facility including an LNG plant and a terminal has been signed at the Eastern Economic Forum, according to the Ministry for the Development of the Russian Far East and Arctic. The document has been signed by the Far East and Arctic Development Corporation, RossOil LLC, Starway Group, Gazprom LNG Technologies LLC and the Investment Promotion and Export Support Agency of the Republic of Sakha (Yakutia). The facility is to be built in the settlement of Pavlovsk, Yakutia.

According to Vladimir Kozhokar, Executuve Director of Starway Logistics, the project will facilitate the delivery of oil products to northern areas of Yakutia and let create a transport and logistics hubAc Karen Meliksetyan, General Director of RossOil, the project will contribute to the development of the green agenda in the region and develop internal market of LNG in Yakutia and neighboring entities of the Russian Federation.

With the support of the Far East and Arctic Development Corporation, investors will develop and submit a request for expansion of the priority development area “Yakutia” (Yakutia PDA) in order to obtain a status of Yakutia PDA resident in the future.

“The project is of the utmost significance both in terms of exports and as an important logistics hub allowing for supplies to the remote northern territories. It will also attract resources for the development of the region and generate new jobs. The Corporation will provide comprehensive assistance to the project,” said Sergei Skaly, Managing Director of the Far East and Arctic Development Corporation.

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