Total to Invest in Novateks LNG Projects

Shailaja A. Lakshmi
Friday, April 19, 2019

The French oil giant Total intends to buy 10% shares of the transshipment points of liquefied natural gas in Murmansk and Kamchatka, which Novatek plans to build.

Russian news agency TASS quoted the CEO of the French company Patrick Pouyanne as saying: "We have just announced that we are investing in Arctic LNG 2, but we are also investing in terminals in Murmansk as well as in Kamchatka. This is part of our agreement with Novatek. To develop Arctic LNG 2, we need two hubs — one in Murmansk, the other in Kamchatka. And Total will be a partner in these two hubs."

"All of that will account for a 10 percent share. Remember that we are also Novatek shareholders," he added.

Novatek plans to build an LNG transshipment and storage facility in Ura Bay in the Murmansk Region. The company will also establish an LNG transshipment hub in Kamchatka

The volume of annual transshipments through the future terminal in Murmansk will be 20 million tons of LNG, while the Kamchatka hub is set to facilitate the transfer of 40 million tons of LNG per year.

Novatek and Total also agreed that the French company will have an opportunity to buy from 10% to 15% in all future LNG projects of the Russian gas producer on Yamal and Gydan peninsulas. The Arctic LNG 2 is the second LNG project of Novatek. Its capacity will be 19.8 mln tonnes. The first train is scheduled to be launched in 2022-2023.

Categories: People & Company News Finance Energy LNG Gas

Related Stories

Aesen, DOC JV Targets Subsea Cable Logistics

Brownfield Output Decline Accelerates, says IEA

Hanwha Ocean Enlists ABB for Singapore’s First Floating LNG Terminal

POSH Set to Tow Nguya FLNG from China to Eni’s Congo Field

Synergy Marine Group Completes Conversion of LNG Vessel to FSRU

Seatrium Signs FLNG Vessel Upgrade Deal for Golar LNG

Cheniere, JERA Ink Long-Term LNG Sale and Purchase Agreement

Santos and QatarEnergy Agree Mid-Term LNG Supply

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

OMV Exits Ghasha Gas Project off UAE with Lukoil Stake Sale

Current News

MODEC Ramps Up Hammerhead FPSO Work After ExxonMobil's Go-Ahead

Aesen, DOC JV Targets Subsea Cable Logistics

Timor Gap Boosts Stake in Finder Energy’s Timor-Leste Oil Fields

SBM Offshore Starts Construction of FSO for Trion Oil Field off Mexico

Russia Targets 2028 for Sakhalin-3 Gas Project Start Up

Seatrium Secures ABS Backing for Deepwater FPSO Design

MDL Secures Cable Laying Job in Asia Pacific

Hibiscus Petroleum Starts Drilling at Teal West Field off UK

Yinson Production Nets DNV Approval for New FPSO Hull Design

Hanwha Ocean's Tidal Action Drillship Starts Maiden Job with Petrobras

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