Russian independent oil and gas producer Novatek has awarded Siemens a contract on compressor equipment for three liquefaction trains of the Arctic LNG 2 export project on the Gydan Peninsula (Russia).
Arctic LNG 2 encompasses the construction of three liquefaction trains of 6.6 Mt/year capacity each with a total capacity of approximately 19.8 Mt/year (26.7 bcm/year). The final investment decision could be made in the second half of 2019, with the first train expected to start up by the end of 2023. Arctic LNG 2 will unlock more than 7 Gboe of hydrocarbon resources in the onshore Utrenneye gas and condensate field. The engineering and construction (E&C) contract for the project was awarded to the Italian oil and gas industry contractor Saipem and its Turkish partner Renaissance at the end of December 2018.
The project is operated by Novatek (60%), which is considering reducing its share in the project to 40%, and Ekopromstroy (40%). In May 2018, Total, which already owns a 19% stake in Novatek and takes part to its Yamal LNG plant in Russia, committed to acquire a 10% working interest in the Arctic LNG-2 liquefaction project. The project has also attracted interest from international investors, such as CNPC, Kogas and Saudi Aramco.
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