Economy

Total and Associates Greenlit Russian Artic LNG 2 Development Venture

Total and Associates Greenlit Russian Artic LNG 2 Development Venture”

"The Japanese government will provide all necessary assistance for the realization of this project", he said.

The two nations recognised the significance of Liquefied Natural Gas (LNG) supplied from Russian Federation to India and agreed to strengthen LNG imports to India to promote India's bid to transform itself into a gas-based economy.

A consortium of TechnipFMC, Saipem and NIPIGAS (Russia) was awarded the contract on engineering, procurement and construction of the LNG plant (EPC contract), with the design and construction of gravity-based structures to be built by the Russian company SAREN, a joint venture of RHI Russia and Saipem.

Total has a direct 10% interest in Arctic LNG 2 alongside Novatek, CNOOC, CNPC and a Mitsui-Jogmec consortium, Japan Arctic LNG.

"NOVATEK has emerged as one of the key players of the global LNG market with the successful launch of Yamal LNG", noted NOVATEK's Chairman of the Management Board Leonid Mikhelson.

"We are confident that the accumulated construction experience, state-of-the-art technologies, proven logistics solutions and partnerships with best-in-class global companies will ensure the effective implementation of our new LNG project", Mikhelson continued.

Russia, already the world's biggest gas exporter, is keen to develop its LNG potential in the Arctic, in particular for Asian markets. The installation of three concrete gravity-based structures in the Gulf of Ob on each of which will likely be located a 6.6 Mt/y liquefaction train will add to significant CAPEX discount (over 30% per ton of LNG) compared to Yamal LNG.

Arctic LNG 2 will be the third LNG project for Novatek, which hopes to match Qatar in production of the super-chilled fuel.

"H-Energy is partnering with Novatek in Arctic LNG 2, to participate in and bring supplies to the downstream customers in India and Bangladesh through its terminals in Jaigarh, Kakinada, Haldia and its two pipelines from Jaigarh to Mangalore and Kannai Chatta to Shrirampur ensuring safe, reliable and economic supply chain from gas field to burner tip", Darshan Hiranandani, CEO of H-Energy said in a statement after signing the MoU.

Founded in 1994, Novatek describes itself as the largest independent natural gas producer in Russian Federation. The company is principally engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons, according to its website.



Like this

loading...
loading...

Latest


06 September 2019
Sonos Move Is the Company's First Speaker With Wi-Fi and Bluetooth
Sonos is also introducing the new One SL speaker today, which is essentially the Sonos One without the personal assistants. That means it doesn't come with any built-in microphones, which will be flawless for those who want a little more privacy.

06 September 2019
Vegetarians, vegans have higher stroke risk than meat eaters, study claims
In addition, those who eat only fish and practice a no-meat diet, also called a pescatarian diet, show a 13 percent reduced risk. The rest, a little more than half, were on a traditional diet featuring a variety of meat, legumes, fruits and veggies.

05 September 2019
OH health officials confirm three cases of pulmonary illness linked to vaping
The death follows a report on e-cigarettes that was prepared for the recent legislative session by the Oregon Health Authority . The CDC also said people should not buy vaping products off the street or ones that have been modified.

05 September 2019
Birds of Prey teaser to be shown in theaters only
The clip begins with red balloons floating on-screen before Harley Quinn jumps in to destroy them with a giant hammer. The 40-second teaser was shown before preview screenings of "Hobbs & Shaw" before hitting the web.

05 September 2019
Sajid Javid ‘turning the page on austerity’ as election looms
In his statement, Javid commended the Treasury civil servants for delivering "the fastest Spending Round in history". This represents a rise of 6.3% from £46.2bn past year to £49.1bn in 2020-21.

05 September 2019
Facebook Launches New Dating Service In The United States
The social network said it is also enabling the ability to integrate Instagram posts directly into your Facebook Dating profile. The feature is only available with the most recent version of Facebook and users must be 18 years or older to create a profile.

05 September 2019
Stars boycott South Africa over xenophobic attacks
Shops cautiously began to open again, as some residents sifted around in wrecked stores, rummaging for food and anything usable. Pandor says Nigeria needs to help address the belief that its countrymen are involved in criminal activities.

05 September 2019
Kevin Hart suffers three spinal fractures from vehicle crash
Laughter may be the best medicine, but the amount of "intense" pain Kevin Hart is in after his auto accident is not amusing . Kelly Clarkson's self-titled talk show has finally aired and her very first guest was meant to be Kevin Hart .

05 September 2019
Meghan Markle, Penelope Cruz, Salma Hayek remember Peter Lindbergh
The Duchess of Sussex led tributes to the famed photographer, with their collaboration one of his last published works. He also photographed the royal for Vanity Fair in October 2017 when she starred in TV drama Suits .

05 September 2019
Now Facebook will remove like counts feature on its platform
However, it looks like Facebook is also thinking about doing the same thing and removing all likes from the social media platform. As mentioned before, Instagram trialled such a move, by hiding the number of likes on certain posts a couple of years ago.