Yamal LNG: Russia launches 27 bln USD liquefied natural gas project in Arctic

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Russia has launched the largest Arctic liquefied natural gas plant on the snow-covered plains of the Yamal Peninsula.

The 27 billion US dollar LNG project will allow Russia to fulfil a plan to double its share of the global LNG market by 2020. The project is an essential cooperation between China and Russia under the Belt and Road Initiative. The LNG project is set to start with a production capacity of 5-point-5 million tonnes per year, which will then increase to 16-point-5 million tonnes by the start of 2019.