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Wednesday, October 26, 2016

Russian Port Plan Opposed by Gazprom

June 8, 2012

Russian gas giant and licenseholder of the Shtokman field does not want the establishment of a free economic port zone in Murmansk

Barents Observer reports that Murmansk might not achieve its much-desired Special Economic Port Zone goal, after all.

Regional authorities in Murmansk have worked hard for the establishment of a free economic port zone, planned as a key element in the region’s bid for new investments and industrial initiatives linked with the upcoming oil and gas boom in the Barents Sea.

Now, however, the project is in jeopardy because of key stakeholder Gazprom’s reluctance to engage in the initiative. Gazprom argues that the special status zone will not be in its interests because it does not allow for raw material processing.

The company plans for the building of a huge regional LNG plant as part of the Shtokman project, and representatives underline that the regulations for port zones either will have to be amended, or Gazprom will need to get special exceptions.

Consequently, the port zone project is likely to be abandoned


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