Arctic LNG-2 project partners reach 20-year LNG purchase agreement

According to a report by Natural Gas News in Moscow on April 28, 2021, Novatek, Russia’s largest independent natural gas production company, stated in Moscow on April 28 that it is currently constructing 19.

This LNG sales agreement covers the total LNG production of the Arctic LNG-2 project.

Novatek said in a statement: "LNG sales volume is determined based on each participant's shareholding ratio in this project.

This means that every shareholder holding 10% of the shares will be able to obtain nearly 2 million tons of LNG production from the Arctic LNG-2 project each year.

Li Jun compiled from natural gas news

The original text is as follows:

Arctic LNG 2 partners conclude 20-year LNG purchase deals: Novatek

The partners in the 19.

The sales agreements cover total LNG production from the plant, which is expected to begin operations at its first 6.

"The LNG offtake volumes are set in proportion to the respective participants' ownership stakes in the project," Novatek said in a statement.

　　Novatek has a 60% stake in Arctic LNG 2, with the remaining shareholders comprising France's Total (10%), China's CNPC (10%), China's CNOOC (10%) and a consortium of Japan's Mitsui and Jogmec - called Japan Arctic LNG - with the final 10% stake.

　　That implies supply deals for close to 2 million mt/year for each of the 10% shareholders.