Tschudi: Russian billion-dollar project will create business

The Russian Yamal LNG project will have a significant impact on the development of the Arctic and for the players operating in the region, where Norwegian Tschudi is betting big, says CEO Jon Edvard Sundnes.

Photo: Marinvest

The Russians have big plans for the Arctic, not least for the production of LNG in the region, and according to the current plans it looks likely that around USD 27 billion will be invested in developing the Yamal LNG project, which involves - among other things - the establishment of an LNG facility with the capacity to produce 16.5 million tons per year.

The project is located near the city of Sabetta in northeastern Russia, and the massive investments in the region will no doubt spread to the rest of the Arctic and the players here, where the Norwegian shipping group Tschudi has established a presence in Kirsenes - along other places -  located 10 kilometers from the Russian border, in northern Norway, says CEO Jon Edvard Sundnes.

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