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.
Source: Total
Interested in LNG Databases?
World LNG Database offers a complete set of data on LNG markets. The service provides detailed information on existing and planned liquefaction and regasification plants. It also includes LNG shipping around the world, LNG contracts, time series on regasification and liquefaction capacities, LNG flows and LNG prices for all players in the market.