rss icon Subscribe
desktop mobile

Total to Invest in Novateks LNG Projects

Pic: Novatek

Shailaja A. Lakshmi

The French oil giant Total intends to buy 10% shares of the transshipment points of liquefied natural gas in Murmansk and Kamchatka, which Novatek plans to build.

Russian news agency TASS quoted the CEO of the French company Patrick Pouyanne as saying: "We have just announced that we are investing in Arctic LNG 2, but we are also investing in terminals in Murmansk as well as in Kamchatka. This is part of our agreement with Novatek. To develop Arctic LNG 2, we need two hubs - one in Murmansk, the other in Kamchatka. And Total will be a partner in these two hubs."

"All of that will account for a 10 percent share. Remember that we are also Novatek shareholders," he added.

Novatek plans to build an LNG transshipment and storage facility in Ura Bay in the Murmansk Region. The company will also establish an LNG transshipment hub in Kamchatka

The volume of annual transshipments through the future terminal in Murmansk will be 20 million tons of LNG, while the Kamchatka hub is set to facilitate the transfer of 40 million tons of LNG per year.

Novatek and Total also agreed that the French company will have an opportunity to buy from 10% to 15% in all future LNG projects of the Russian gas producer on Yamal and Gydan peninsulas. The Arctic LNG 2 is the second LNG project of Novatek. Its capacity will be 19.8 mln tonnes. The first train is scheduled to be launched in 2022-2023.

Apr 19, 2019


People & Company News

MOL to Join TCFD Consortium

Pic: MOL

Japanese shipping giant Mitsui O.S.K. Lines (MOL) announced that it will participate in the Task

GSL Acquires Three Boxships

Pic: Maersk

Marshall Islands-incorporated Global Ship Lease (GSL) announced that it has agreed to acquire

PSA, PFR, IFM Jointly Acquire DCT GDAƃSK

Image: DCT Gdansk

PSA International Ptd Ltd (PSA), the Polish Development Fund (PFR) and the IFM Global


Teekay Gets $450mln for Shuttle Tanker Fleet

Pic: Teekay

The midstream services provider to the offshore oil production industry Teekay Offshore Partners

Pacific Radiance Wins Case Against Chinese Yard

Image: Pacific Radiance

Singapore-based offshore vessel operator Pacific Radiance has won an arbitration award against a

Star Bulk Carriers Reports Q1 Loss

Pic: Star Bulk Carriers Corp.

Greek shipping company Star Bulk Carriers Corp reported a net loss of $5.3 million, or $0.

Maritime Apps