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

Venture Global’s CP2 LNG to start mobilization and site preparation

Venture Global LNG's CP2 LNG has received approval from the US FERC to start mobilization and other limited activities for the LNG project in Louisiana.

Prime Infra to buy 60 percent stake in First Gen’s Batangas LNG terminal

First Gen has entered into a deal with Prime Infrastructure Capital under which the latter will acquire a 60 percent equity stake in First Gen's gas business in the Philippines, including the Batanagas LNG terminal.

Atlantic LNG shipping rates continue to decrease

Atlantic LNG freight shipping rates continued to decrease this week, while European prices also dropped compared to last week.

More News Like This

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.

TotalEnergies seals Ksi Lisims LNG deal

French energy giant TotalEnergies has signed a 20-year deal with Ksi Lisims LNG to buy LNG from the latter's planned export project in Canada. In addition, TotalEnergies will acquire a 5 percent stake in Houston-based Western LNG, the developer, shareholder, and future operator of the Ksi Lisims LNG project.

TotalEnergies targets Mozambique LNG restart by mid-year, CEO says

France's TotalEnergies and its partners in the giant Mozambique LNG project are planning to restart construction on the 12.8 mtpa project by the middle of this year, according to Patrick Pouyanne, CEO of TotalEnergies.

Three Marsa LNG contracts awarded in Oman

Three firms have secured contracts for the TotalEnergies-led Marsa LNG bunkering project worth about $1.6 billion, according to Oman's Sohar Port and Freezone.