Russia’s Gazprom Neft is reportedly considering the development of its own LNG facility in the Arctic as it sizes the monetization options for its natural gas resources. 

Reuters reports the company is looking at options for the development of its natural gas reserves in the Yamal region.

In a tender floated late last year, Gazprom Neft sought a study showing how to best utilize its gas reserves in the region and whether developing it in LNG form is an option.

Citing a Gazprom Neft spokesperson, Reuters, reports the project is still in its initial stages.

In addition to a natural gas liquefaction facility, Gazprom Neft is considering the construction of a pipeline across the Arctic seabed connecting its Novoport field to the existing network of its parent company Gazprom.

LNG World News Staff