For the records, in the past the Technip France S.A. … Contact our editorial team via email. Novatek and the Belgian company Fluxys, operator of natural gas transmission and storage infrastructure, signed a 20-year contract for LNG transshipment services at Zeebrugge for up to 8 million tons per year. Project Phase: Desi1ln and Consort ction. Companies sign deals to construct carriers for Arctic LNG 2. Company profile page for Arctic LNG 2 OOO including stock price, company news, press releases, executives, board members, and contact information The Arctic LNG 2 project is 60% owned by Novatek. Arctic LNG 2 project is a major liquefied natural gas development led by Novatek on the Gydan Peninsula, Russia. This website uses cookies to improve your experience. The Arctic LNG 2 project includes the construction of three LNG trains with a capacity of 6.6 million tonnes of LNG per annum (mtpa) each and another 1.6 mtpa of stable gas condensate. Arctic LNG 2 expands on the success of the adjacent Yamal LNG project at the port of Sabetta. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. Maybe a nice photo? China continues to invest in Arctic natural resources as two Chinese national oil companies secure a 20 percent stake in Novatek’s massive Arctic LNG 2 project. OOO Arctic LNG 2 is the operator and owner of all the assets. The Utrenneye field is the resource base for Arctic LNG 2. Work locations: Russia. If a partnership does not come to fruition for this project, Saudi Aramco may yet become a partner on future projects as Novatek will begin the search for investors for its Arctic LNG 3 project before the end of 2019. McDermott’s joint venture Qingdao McDermott Wuchuan Offshore Engineering (QMW) in Qingdao, China, has been awarded a large contract to provide three complex modules for Novatek’s Arctic LNG 2 Project in Russia. The Arctic LNG 2 project aims to develop more than 7 billion barrels of oil equivalent (boe) of resources. The first, Yamal LNG, has an annual production capacity of 16.5 million metric tons. Taking into account its 19.4 percent stake in Novatek, its overall share is 21.6 percent. ↑ "2017 World LNG Report" International Gas Union, Accessed June 20, 2017. Novatek has also been in discussion with Saudi Arabia’s national oil company Saudi Aramco and reports say it is nearing an agreement. 1. Why Arctic LNG-2? Arctic LNG 2 Project. The value of the contract is expected to be in range between $50m and $250m. From Malte Humpert Russia’s largest private natural gas company, Novatek, secured vital funding for its Arctic LNG 2 plant. But opting out of some of these cookies may have an effect on your browsing experience. These cookies will be stored in your browser only with your consent. McDermott’s Senior Vice President Asia Pacific, Ian Prescott, said: “This award recognizes QMW’s experience and excellent performance in the Arctic on an earlier Yamal LNG project.”, He added: “Fabrication will be completed in QMW’s mega module workshop which provides increased certainty for safety, schedule and successful project delivery.”. It is being jointly developed by Novatek (60%) and Ekropromstroy (40%) with an estimated investment of $25.5bn. China continues to invest in Arctic natural resources as two Chinese national oil companies secure a 20 percent stake in Russia’s massive Arctic LNG 2 project. “The agreement is an important milestone in our Arctic LNG 2 project implementation as well as a continuation of our successful cooperation with CNPC,” noted Leonid Mikhelson, Novatek’s Chairman of the Management Board. Engineering services firm McDermott International has won a contract to help deliver a major liquefied natural gas (LNG) project in Russia. Arctic LNG 2: A Vast LNG Project in Russia’s Far North Following the success of Yamal LNG, the Group has announced the launch of Arctic LNG 2, a vast LNG project in Russia’s Far North. China acquires 20 percent stake in Novatek’s Arctic LNG 2 Project. Building on the success of that first project, Novatek is thus far sticking with the same project partners. Announced that the project employs an innovative construction concept using gravity-based structures ( )! Some of these cookies will be stored in your browser only with consent! The second large-scale LNG project is expected to have a production capacity of 16.5 million metric tons ship-to-ship transfers LNG! Contract as between $ 50 million and $ 250 million across the Ob Bay from LNG. We discuss the challenges with Arnaud Le Foll, Managing Director of E. 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