Vitol, Novatek Sign LNG Deal for Arctic 2 Plant

Shailaja A. Lakshmi
Tuesday, April 2, 2019

Novatek Gas & Power Asia, a trading unit of Russia’s largest independent natural gas producer and LNG operator, Novatek, signed a heads of agreement with British energy and commodity trading company Vitol for the supply of LNG from the Arctic LNG 2 project.

The Agreement envisages concluding a 15-year contract with annual supply of one million tons of LNG from the Arctic LNG 2 project as well as other Novatek’s projects.

The LNG will be shipped on FOB basis to Novatek’s transshipment terminals in the Murmansk region and Kamchatka, said a release.

“We commenced contracting LNG volumes from our new project Arctic LNG 2,” noted Novatek’s First Deputy Chairman of the Management Board Lev Feodosyev.

“LNG volumes sold at our transshipment terminals ensures the flexibility of LNG supplies around the world and allows us to create LNG hubs in the Asia-Pacific and Atlantic basins,” Lev added.

The Arctic LNG 2 project envisages constructing three LNG trains at 6.6 million tons per annum each, using gravity-based structure (GBS) platforms. The Project is based on the hydrocarbon resources of the Utrenneye field.

Categories: Energy LNG Contract

Related Stories

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

Yinson Production, “K” LINE Target Europe's CCS with FSIU and LCO2 Solutions

Petronas-Eni Upstream Joint Venture to Take Up to Two Years to Set Up

UK Firm Secures Exploration Extension for Two Blocks off Vietnam

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

Woodside to Shed Some Trinidad and Tobago Assets for $206M

Current News

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com