LNG will be supplied on a Fob Murmansk and Fob Kamchatka basis
Arctic LNG 2 inks long-term contracts
Russia's Artic LNG 2 project continues to advance, with the signing of long-term sales and purchase agreements (SPAs) for the entirety of LNG production
Russia’s Novatek has announced that the Arctic LNG 2 joint venture has concluded 20-year SPAs with all project participants. Offtake volumes are in proportion to ownership stakes, and the JV comprises Novatek (60pc), Total (10pc), Chinese NOCs CNPC (10pc) and Cnooc (10pc) and Japan Arctic LNG (10pc), which is a combination of Japanese firms Mitsui and Jogmec. LNG sales from the project’s first liquefaction train are scheduled to start in 2023. The development will eventually comprise three 6.6mn t/yr trains for a total capacity of 19.8mn t/yr, plus an additional total across the three trains of 1.6mn t/yr in condensate production capacity. 2023 - LNG sales to start The SPAs guarante
Also in this section
4 February 2025
This premier event is poised to address the evolving technology and investment demands of North America’s thriving chemical and pharmaceutical sectors
4 February 2025
The threat of Trump tariffs and the departure of Trudeau have sharpened the domestic political focus on boosting the oil and gas industry
3 February 2025
Alaska has been engulfed by a lack of consistent policymaking and highlights the challenges financing energy projects in the US
31 January 2025
Several projects are expected to boost production this year as strategically important region looks to environmental rules, fiscal policies, oil prices and demand trends longer term
