Russia’s LNG ambitions no longer a pipe dream

Russia’s LNG ambitions no longer a pipe dream:

"Leonid Mikhelson beamed with pride when Vladimir Putin this month hailed Novatek’s $27bn liquefied gas pipeline project as an “extremely important step” for the country.

The chief executive of the nation’s biggest privately owned gas producer and the Russian president had for years been told that the Yamal liquid natural gas project in the Russian Arctic was too difficult to build and not viable in a country where gas exports have been dominated by state-owned Gazprom.

“This is a complex project, of course, and in this room there are very good people, good specialists, who at the beginning of the process, told me: ‘Do not do this’,” Mr Putin told the chief executives of Russia’s other top energy companies, including Gazprom’s Alexei Miller and Rosneft’s Igor Sechin, who were summoned to fly to Yamal for the pipeline’s opening ceremony. “But those who took on this project took a risk; this risk proved to be justified — and achieved results.”"



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