A five-party agreement on the construction of a petrochemical facility has been announced. The facility will include an LNG plant and terminal, which has been signed off by the Eastern Economic Forum. The document signed by several parties confirms that the facility is to be built in the settlement of Pavlovsk, Yakutia.
Vladimir Kozhokar, Executive Director of Starway Logistics, says: ‘The project will facilitate the delivery of oil products to northern areas of Yakutia and let create a transport and logistics hub.’
The project is set to contribute to the progression of green agenda in the region and develop the internal market of LNG in Yakutia and the neighbouring entities of the Russian Federation.
The project has gained the support of the Far Eastern Arctic Development Cooperation, allowing investors to develop and submit requests for the expansion of the priority development area to obtain the status of Yakutia PDA residents in the future.
The project is significant for exportation and as an important logistics hub allowing for the supplies to reach remote northern territories. More widely, the project will draw resources for the development of the region and help to establish new jobs.
