NOVATEK and Total sign agreement on acquiring a 10% stake in Arctic Transshipment

Moscow, April 28 - Neftegaz.RU. NOVATEK announced today that the company signed a Heads of Agreement with Total on the sale of a 10% participation interest in Arctic Transshipment.

Arctic Transshipment is NOVATEK’s wholly owned subsidiary that will eventual operate 2 LNG transshipment complexes currently under construction in the Kamchatka and Murmansk.

Both terminals are to be ready for operations by the end of year 2022.
They will become key parts of the logistics schemes developed by Novatek as part its massive building of LNG projects in the Arctic.

The transshipment complexes are 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 NOVATEK’s projects.

LNG cargos will be transferred from the Arc7 ice-class LNG tankers to conventional tankers at each location.
Each transshipment complex comprises of a floating LNG storage unit with a capacity of 360,000 m3 with 2 ship-to-ship transshipment points.

In 2024, NOVATEK and its partners intend to have the Arctic LNG 2 up running, a project that ultimately will produce 19,8 million tons per year. It comes in addition to the more than 16,5 million tons currently produced in the Yamal LNG project.