Japanese consortium grabs Arctic LNG 2 stake

Japanese consortium grabs Arctic LNG 2 stake
Illustration purposes only (Image courtesy of Novatek)

Russia’s largest private natural gas producer Novatek has agreed to sell a 10 percent stake in the Arctic LNG 2 project to a Japanese consortium.

The company said it has signed the sales and purchase agreement with the consortium of Mitsui & Co and Japan Oil, Gas and Metals National Corporation (JOGMEC).

The participation in the project also provides for the long-term LNG offtake of approximately two million tons per annum by the Japanese partners.

The agreement will close in the nearest future subject to regulatory approvals, Novatek said in its statement.

Speaking of the agreement, Novatek’s head, Leonid Mikhelson noted that the entry of Japanese partners into Arctic LNG 2 will contribute to its implementation.

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.

Share this article

Follow LNG World News

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 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 1 2 3 4 5

Flame 2020

Flame is Europe’s largest and most influential meeting place for the global gas industry.

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – London / Mar 2020

This three-day training program provides a unique opportunity to learn and apply the practical skills…

read more >

3rd CWC Japan LNG & Gas Summit

As the only commercially focused forum for the Japanese LNG industry

read more >

Cryogenic Storage Tanks

The program committee looks forward to having the opportunity for intensive, objective and professional…

read more >