President Vladimir Putin was set to launch Friday a $27 billion liquefied natural gas plant in the snow-covered plains of the Arctic as Russia hopes to surpass Qatar to become the world's biggest exporter of the chilled fuel.

In temperatures of around minus 27 degrees Celsius (minus 16 degrees Fahrenheit), the Russian president was scheduled to oversee the first gas shipment being loaded onto an icebreaking tanker from an LNG plant in the port of Sabetta on the Yamal Peninsula above the Arctic Circle.

Saudi Arabian Energy Minister Khalid al-Falih and other top officials were present for the occasion.

For the project, Russia's privately owned gas producer Novatek partnered with France's Total and China's CNPC.

"Without a doubt Russia not only can but will become the largest producer of liquefied natural gas in the world," Putin said in March.