The Russian government's long-term program to develop the Arctic Yamal Peninsula includes investments of 858 billion rubles ($28 billion) in OAO Novatek's (NVTK.RS) Yamal LNG project, documents from the Energy Ministry showed Tuesday.

Novatek, Russia's biggest independent natural gas producer, plans to start production of liquefied natural gas in 2015 or 2016 on the Yamal Peninsula in Russia's north, but has yet to publish any details of the project.

According to the documents, which the Vedomosti daily posted on its website, investments in the project include RUB264 billion to build an LNG tanker fleet.

The ministry also estimates the optimal plateau gas output at 24.4 billion cubic meters a year, which is expected to last for 21 years, and production of up to 16 million metric tons of liquefied gas a year.

Novatek said last month it had suspended talks with potential foreign partners in the project until a tax regime for the project is clarified.

The ministry estimates that under the current tax regime the program isn't economically viable. The government is expected to discuss the tax breaks for the project toward the end of the year.

The document concludes that the Yamal LNG project may be developed only on the condition of "government support, stable tax regime and economic stimulation".
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