Russia approves floating power plant

19 August 2020

Novatek logo

The Russian government has given a green light to the concept of constructing a floating thermal power plant in the north-east region of Chukotka.

The LNG-fired plant would be funded and built by the country’s huge gas producer Novatek and would supply power to the Baimsky copper and gold mining projects in the region.

While Novatek has agreed to shoulder the €434 million cost of the plant itself, there is an additional cost of around €300 million for the construction of two single-circuit 220kV power lines, which will be borne by the Russian government, should the project move forward.

A further €205 million will be required for dredging, shoreline reinforcement and port infrastructure, although a decision is yet to be made regarding the financing of this element of the project.

Russian news agency Interfax said the issue is currently the subject of discussion between the Far East Development Ministry, Transport Ministry and state energy corporation Rosatom.


Rostaom’s floating nuclear power plant Akademik Lomonosov is now fully operational in Russia’s Chukotka region

  • In May this year, Rosatom announced that its floating nuclear power plant, Akademik Lomonosov – also operating in the Chukotka region, making it the world’s most northerly nuclear plant – is now fully commissioned and has already generated over 47.3 million kWh of electricity since being connected to the grid.
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