Total to buy stake in Novatek’s LNG transshipment terminals

Russian independent producer Novatek said it has signed heads of agreement with France’s Total under which the latter would buy a stake in its two LNG transshipment complexes.

Total will purchase a 10 percent participation interest in Novatek’s unit Arctic Transshipment that will eventually operate the complexes currently under construction in the Kamchatka and Murmansk regions, according to Novatek.

The transshipment complexes make 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 company’s projects.

Moreover, the Arc7 ice-class LNG tankers will transfer cargoes to conventional tankers at each location.

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

Novatek and Total are already partners in both the Yamal LNG project and the Arctic LNG 2 development.

Most Popular

BP, partners take FID on $7 billion Tangguh UCC project

BP said in a statement on Thursday the Tangguh Ubadari, CCUS, compression project (UCC) has the potential to unlock...

CoolCo seeks long-term employment for two LNG carriers

In August, Coolco said it plans to employ its first newbuild LNG vessel, Kool Tiger, on a shorter deal...

LNG Canada pipeline enters commercial service

Canada's TC Energy said on Tuesday CGL had executed a commercial agreement with LNG Canada and CGL customers that...

More News Like This

TotalEnergies inks LNG supply deal with China’s Sinopec

TotaLEnergies said on Monday it will supply Sinopec with two million metric tons of LNG per year. The deal is...

TotalEnergies reports lower LNG earnings, sales

The company’s integrated LNG adjusted net income reached about $1.06 billion in the third quarter, a drop of 8...

US sanctions four LNG carrier owners

The Department of State said in a statement on Wednesday that it continues to designate entities involved in the...

Russian LNG production climbs

Rosstat’s data show that the country’s LNG terminals produced 25.3 million mt during January-September, up by 7.1 percent from...