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 Plaquemines LNG to commission fourth tank

US LNG exporter Venture Global LNG has received approval from the US FERC to commission the fourth storage tank with LNG at its Plaquemines plant in Louisiana.

Worley gets full notice to proceed on first phase of CP2 LNG project

Australian engineering firm Worley has received a full notice to proceed from US LNG exporter Venture Global LNG under its reimbursable EPC contract for the first phase of the CP2 LNG project in Louisiana.

US FERC issues final SEIS for NextDecade’s Rio Grande LNG project

The US Federal Energy Regulatory Commission (FERC) has released a final supplemental environmental impact statement for NextDecade's Rio Grande LNG facility and the accompanying pipeline in Texas. FERC continues to conclude that approval of the projects would result in "less than significant impacts."

More News Like This

Novatek reports lower H1 profit

Russian LNG producer Novatek reported a 34 percent drop in its net profit in the first half of this year.

Russian LNG production continues to decline

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

TotalEnergies working on Mozambique LNG restart, CEO says

France's TotalEnergies and its partners in the giant Mozambique LNG project are still working with the Mozambique government on restarting construction on the 12.8 mtpa project, according to Patrick Pouyanne, CEO of TotalEnergies.

TotalEnergies reports higher LNG sales, lower earnings

French energy giant TotalEnergies reported higher LNG sales in the second quarter of this year, while its integrated LNG business logged lower adjusted net operating income due to lower prices.