PAO NOVATEK (NOVATEK) announced that its joint venture Arctic LNG 2 and TechnipFMC signed a contract on engineering, procurement, supply, construction and commissioning of an integrated liquefied natural gas facility with annual liquefaction capacity of 19.8 million tons under the Arctic LNG 2 project. The contract terms provide for the launch of the first train of the project in 2023.
“The team, which implemented the unique Yamal LNG project in record time and on budget, has now joined an even larger and more innovative project,” noted NOVATEK’s Chairman of Management Board Leonid Mikhelson. “We are confident that the accumulated experience of mutual cooperation on the construction of LNG plants in the Arctic zone will also ensure the successful and timely implementation of our new project Arctic LNG 2”.
The Arctic LNG 2 project envisages constructing three LNG trains at 6.6 million tons per annum each, using gravity-based structure (GBS) platforms. The Project is based on the hydrocarbon resources of the Utrenneye field. As of 31 December 2018, the Utrenneye field’s 2P reserves under PRMS totaled 1,138 billion cubic meters of natural gas and 57 million tons of liquids. Under the Russian classification reserves totaled 1,978 billion cubic meters of natural gas and 105 million tons of liquids. OOO Arctic LNG 2 owns an LNG export license. The project’s participants include PAO NOVATEK (90%) and Total (10%).