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.



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