TotalEnergies takes stake in Novatek’s LNG transshipment terminals

Russian independent producer Novatek has signed a share purchase deal with France’s TotalEnergies under which the latter will take a stake in its two LNG transshipment complexes.

TotalEnergies purchased a 10 percent participation interest in Novatek’s unit Arctic Transshipment that will operate the complexes currently under construction in the Kamchatka and Murmansk regions.

The deal follows a heads of agreement the duo signed in April.

“The transshipment facilities will ensure the optimal utilization of our ice tanker fleet and reduce the cost of transport to consuming markets for the company’s existing and future LNG projects,” Novatek’s Leonid Mikhelson, said.

“The entry of our long-term partner TotalEnergies into the LNG transshipment project will enhance the competitiveness of our joint projects and contribute to the successful development of our LNG logistics chain in accordance with best industry practices in environmental protection and climate change mitigation,” he said.

The Arc7 ice-class LNG tankers will transfer cargoes from Arctic LNG 2 but also other Novatek’s projects to conventional tankers at each of the two locations.

Moreover, each transshipment complex will have a floating LNG storage unit with a capacity of 360,000 cubic meters with two ship-to-ship transshipment points.

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

TotalEnergies also has a 19.4 percent stake in Novatek.

Most Popular

Golar progresses FLNG growth plans

Golar LNG said it had signed a final engineering study to confirm EPC price and delivery for a 5 mtpa MKIII FLNG.

Cheniere takes FID on two more Corpus Christi LNG trains

US LNG exporting giant Cheniere has made a positive final investment decision to build two more midscale trains at its Corpus Christi LNG plant in Texas. The company has also issued full notice to proceed to Bechtel.

Mexico Pacific seeks DOE extension

Mexico Pacific, the developer of the planned 15 mtpa Saguaro Energia LNG export project, is seeking a seven-year extension of its export deadline from the US Department of Energy.

More News Like This

Russia’s Novatek in LNG truck move

Russian LNG producer Novatek and compatriot National Carrier (NATCAR) are joining fores to develop the market for LNG as fuel for trucks.

TotalEnergies expands in Malaysia with Petronas deal

French energy giant and LNG player TotalEnergies has entered into a deal with Petronas to buy stakes in multiple blocks offshore Malaysia and one block offshore Indonesia.

Argentina’s Enarsa gets offers for new LNG cargo tender

Argentina's state-owned LNG importer Energia Argentina (Enarsa) has received six offers for its third LNG cargo tender in 2025.

Russian LNG production drops in April

Russian liquefied natural gas (LNG) production decreased in April compared to last year, according to the Russian statistics agency Rosstat.