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Total will acquire 10% of the Arctic LNG-2 liquefaction project (Russia)

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The French oil and gas company Total expands its existing partnership with the Russian company Novatek and will acquire a 10% working interest in the Arctic LNG-2 liquefaction project, which will be located on the Gydan peninsula in Russia. Total already owns a 19% stake in Novatek, which will retain 60% in the Arctic LNG-2 project (11.5% indirect stake for Total in the project): with the acquisition of a 10% stake, Total will hold 21.5% of the Arctic LNG project.



The project will consist of three liquefaction trains of 6.6 Mt/year capacity each with a total capacity of approximately 19.8 Mt/year. Arctic LNG 2 will unlock more than 7 Gboe of hydrocarbons’ resources in the onshore Utrenneye gas and condensate field.



Total will acquire 10% of the Arctic LNG-2 liquefaction project

Source: Total