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LNG terminal to attract almost $78 million in investments — Murmansk governor

An LNG handling offshore complex in the Murmansk Region will bring to the local budget almost 6 billion rubles ($78 million) in investments, the region’s Governor Andrey Chibis told the government on Monday.

Earlier, Prime Minister Mikhail Mishustin signed an order to increase the Capital of Arctic Advance-Development Territory by adding to it a plot of land in Vidyayevo, and a part of the Murmansk port’s waters, where an offshore handling complex for liquefied natural gas (LNG) will be built. The new complex will serve LNG supplies to European and Asia-Pacific countries.

“The terminal to export LNG will attract additionally to the Murmansk Region’s economy 5.8 billion rubles and will offer new jobs,” the governor said. “Thus, the young people, who study at our universities and colleges, will be able to get those jobs.”

Additionally, he continued, the regional budget will receive from the project 2.6 billion rubles ($34 million) in taxes and fees to 2031.

According to the governor, residents of the Capital of Arctic Advance-Development Territory have invested in the Murmansk Region’s economy almost 92 billion rubles ($1.2 billion) and have offered more than 2,300 jobs.

The Capital of the Arctic Advance-Development Territory was established in 2020. Russia’s Arctic Zone and the Far Eastern Federal District have 23 advance-development territories, featuring more than 560 residents. Their contracted investments exceed 4.5 trillion rubles ($58 billion). The amount of made investments to date is 1.6 trillion rubles ($21 billion). The new projects have offered almost 50,000 jobs.
Source: TASS

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