Gulf Oil and Gas accountACCOUNT

Launch of the Giant Arctic LNG 2 Development

Source: www.gulfoilandgas.com 9/5/2019, Location: Asia

Total, Novatek and the other project shareholders have approved the final investment decision (FID) for Arctic LNG 2, a major liquefied natural gas (LNG) development located on the Gydan peninsula, Russia. The project will have a production capacity of 19.8 million tons per year (Mt/y) and is expected to export its first LNG cargo by 2023, the second and third train to start up by 2024 and 2026.

Total has a direct 10% interest in Arctic LNG 2 alongside Novatek (60%), CNOOC (10%), CNPC (10%) and a Mitsui-Jogmec consortium, Japan Arctic LNG (10%). Total also owns an 11.6% indirect participation in the project through its 19.4% stake in Novatek, thus an aggregated economic interest of 21.6% in the project.

“Arctic LNG 2 will leverage the success of the Yamal LNG project and will deliver competitive LNG to the markets in four years’ time," commented Patrick Pouyanné, Chairman and CEO of Total. “Arctic LNG 2 adds to our growing portfolio of competitive LNG developments based on giant low cost resources primarily intended for the fast growing Asian markets.”

The project has very low upstream costs with the development of the giant resources from the Utrenneye onshore gas and condensate field. The installation of three concrete gravity-based structures in the Gulf of Ob on each of which will be located a 6.6 Mt/y liquefaction train will contribute to significant capex reduction (more than 30% per ton of LNG) compared to Yamal LNG. Also, the close proximity to Yamal LNG will allow Arctic LNG 2 to leverage synergies with existing infrastructure and logistics facilities.

Arctic LNG 2 production will be delivered to international markets by a fleet of ice-class LNG carriers that will be able to use the Northern Sea Route and the transshipment terminal in Kamchatka for cargoes destined for Asia and the transshipment terminal close to Murmansk for cargoes destined for Europe.

Total, Second Largest Private Global LNG Player
Total is the second-largest private global LNG player, with an overall portfolio of around 40 Mtpa by 2020 and a worldwide market share of 10%. With 22 Mt of LNG sold in 2018, the Group has solid and diversified positions across the LNG value chain. Through its stakes in liquefaction plants located in Qatar, Nigeria, Russia, Norway, Oman, Egypt, the United Arab Emirates, the United States, Australia or Angola, the Group sells LNG in all markets.

LNG Processing News in Russia >>

Norway >>  5/26/2020 - Nordic energy company Gasum has inked an LNG bunkering deal with Rotterdam shipping company Samskip. Samskip owns two single fuel vessels Samskip Kvit...
Georgia >>  5/22/2020 - Kinder Morgan Inc. is bringing production units back online at its Elba Island liquefied natural gas (LNG) export facility in Georgia after a fire at ...

United States >>  5/18/2020 - NextDecade Corporation reported its first quarter 2020 results. The Company is also confirming its strong financial position and providing an update o...
United States >>  5/18/2020 - McDermott International and its joint venture partner, Chiyoda International, a U.S.-based wholly-owned subsidiary of Chiyoda Corporation, Japan, have...

Russia >>  5/13/2020 - Yamal LNG (Yamal LNG) announced the scheduled maintenance of the second and third LNG trains with consecutive shutdowns for 12 days each from 21 May t...
United States >>  5/4/2020 - Freeport LNG announced that it began commercial operations for its third liquefaction train on Friday, May 1, with the commencement of liquefaction se...

Related Categories: Deodorization system  Gas dehydration  Gas sweetening  Gas Treating  General  GTL Processing  LNG Processing  LPG Domestic use  LPG Odorless  Packing  Phase Separation  Scrubbers 

Related Articles: Gas dehydration  Gas sweetening  Gas Treating  General  GTL Processing  LNG Processing  LPG Domestic use  LPG Odorless  Packing  Phase Separation  Scrubbers 


Russia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 |

Oil & Gas Projects in Russia >>

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.