Total acquires 10% of Novatek Arctic-2 project

According to a report from Neftegaz.

Novatek announced today that the company and Total have signed an agreement to sell 10% of the participating interests in Arctic Transit Company.

Arctic Transshipment Company, a wholly-owned subsidiary of Novatek, will eventually build two LNG transshipment complexes in Kamchatka Peninsula and Murmansk.

Both terminals will be put into operation by the end of 2022.

They will be a key part of the logistics plan developed by Novatek as part of the company's large-scale LNG project in the Arctic.

The transshipment complex is part of the Novatek logistics chain and aims to optimize the use of the Arc7 ice-class tanker fleet to ensure efficient and cost-effective LNG transportation from the Arctic 2 LNG project and other Novatek projects.

The LNG cargo will be transferred from Arc7 ice-class LNG tankers to conventional tankers in each location.

Each transfer complex includes a 360,000 cubic meter floating LNG storage unit with 2 ship-to-ship transfer points.

In 2024, Novatek and its partners plan to launch the Arctic No.

Qiu Yin compiled from Neftegaz.

The original text is as follows:

NOVATEK and Total sign agreement on acquiring a 10% stake in Arctic Transshipment

The French company already owns a stake in Novatek, and in Novatek's Yamal and Arctic 2 LNG projects.

Moscow, April 28-Neftegaz.

Arctic Transshipment is NOVATEK's wholly owned subsidiary that will eventual operate 2 LNG transshipment complexes currently under construction in the Kamchatka and Murmansk.

Both terminals are to be ready for operations by the end of year 2022.

They will become key parts of the logistics schemes developed by Novatek as part its massive building of LNG projects in the Arctic.

　　The transshipment complexes are part of NOVATEK's logistical chain to optimize the use of the Arc7 ice-class tanker fleet, with the aim to ensure efficient and cost-effective LNG transportation from Arctic LNG 2 and other NOVATEK's projects.

　　LNG cargos will be transferred from the Arc7 ice-class LNG tankers to conventional tankers at each location.

　　Each transshipment complex comprises of a floating LNG storage unit with a capacity of 360,000 m3 with 2 ship-to-ship transshipment points.

　　In 2024, NOVATEK and its partners intend to have the Arctic LNG 2 up running, a project that ultimately will produce 19,8 million tons per year.
It comes in addition to the more than 16,5 million tons currently produced in the Yamal LNG project.