The approval paves the way for the construction of a large vertically integrated gas chemical complex in NAA with a capacity of 1.8 mn tons of methanol per year—with a possible subsequent increase in output. Alexander Stotsky, General Director of the Project Office for Arctic Development, writes about this.

The methanol that the gas and chemical plant will produce will meet the high low-carbon and environmentally friendly criteria set by the world's importers of this fuel. In addition to methanol, the new plant will produce stable gas condensate and granulated sulphur, which are in demand in the chemical and energy sectors.

The promising project is expected to bring serious benefits to both the county and the Arctic zone as a whole. First and foremost, we are talking about tax payments to the regional budget—during the construction and commissioning phase (until 2031) they will amount to RUB 1 bn to RUB 2.5 bn per year, and after reaching the design capacity—RUB 9 bn per year. In addition, several thousand new jobs will be created in the region. Importantly, the project will also benefit from new port infrastructure, which will be integrated into the overall logistics scheme of the North Sea Route.