The project includes the construction of three LNG trains, with a capacity of 6.6 mtpa of LNG each, and at least 1.6 mtpa of stable gas condensate. (Bloomberg) — Russia is preparing to make the earliest-ever shipment of liquefied natural gas to Asia, taking advantage of thinning ice in the Arctic Ocean and paving the way for a record-long navigation season this year. In 2021-2024, the state will finance almost 70% of the LNG terminal Utrenny on Gydan peninsula,where the 19.8 mtpa Arctic LNG-2 project (three trains to be launched in 2023, 2024, and 2026) and the 19.8 mtpa Arctic LNG-1 (to be launched post 2025) will be built. These cookies do not store any personal information. The Arctic liquefied natural gas (LNG) 2 project is being developed in the Gydan Peninsula in the northern part of Siberia, Russia. Arctic LNG 2 to debut in 2023. Journalists in 50+ countries follow the constant flow of money made and lost in oil & gas while It is mandatory to procure user consent prior to running these cookies on your website. 0 0 1 minute read Cosco Shipping Energy Transportation has announced that it has approved a plan to invest in three LNG carriers for the Arctic LNG … Vladimir Putin wants Russia to be the world’s top LNG producer—if that ever happens, LNG from the Arctic will deserve most of the credit. newsletter, Energy Source. General inquiries – [email protected] Advertising inquiries – [email protected] News tips – [email protected] Bolshoy Kamen, January 20 - Neftegaz.RU. 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Arctic LNG 2 step closer to FID Commenting on the entry of two Japanese companies into the Arctic LNG 2, Wood Mackenzie said that the project is now a step closer to final investment decision (FID). Italian Export Credit Agency SACE plans to put $1 billion into the project, while an unnamed Russian bank is reportedly considering a $1.5-billion investment. Such dimensions automatically put it in the category of unique. LNG gets most of the press, but a few hundred miles away, Gazprom is hard at work too. Subscribe to our daily newsletter. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It also has Arctic LNG 1 and Obsky projects in the pipeline. China’s Silk Road Fund owns the remaining 9.9 per cent. Construction of the plant began in 2018; a final investment decision (FID) was taken in September 2019. — April 28, 2020 AO NOVATEK announced today that Arctic LNG 1, a wholly owned subsidiary, registered license number SLH 16637 NR for geological survey, exploration and production at the Bukharinskiy subsoil license area on the Gydan Peninsula. The total LNG capacity of the three trains will be 19.8 mtpa. The lion’s share of the goods is LNG. Arctic LNG 2 envisages constructing 3 LNG liquefaction trains of 6.6 million tons per annum each, as well as cumulative gas condensate production capacity of 1.6 million tons per annum. ↑Novatek Looks to Build Second Arctic LNG Plant," The Maritime Executive, March 29, 2017. The project is expected to have a production capacity of 19.8 million tons (Mt) of LNG a year. If all the foreign backers of the massive energy project stick to their financial pledges, Arctic LNG 2 will receive … Don’t miss our exclusive It is being jointly developed by Novatek (60%) and Ekropromstroy (40%) with an estimated investment of $25.5bn. Train 1 of PAO Novatek’s 19.8-million tonne/year (tpy) Arctic LNG 2 liquefaction plant on Russia’s Gydan peninsula remains on track for completion by end-2022. With the 19.8mtpa Arctic LNG 2 being delayed beyond the original 2025 deadline and the 5mtpa Obsky LNG still not receiving any final investment … Necessary cookies are absolutely essential for the website to function properly. Paris - Total announces that it has signed the definitive agreements with Novatek for the acquisition of a direct 10% interest in Arctic LNG 2, a major liquefied natural gas development led by Novatek on the Gydan Peninsula, Russia.. In fact, Gazprom produces far more gas from Yamal peninsula than NOVATEK. Novatek is studying whether to build another LNG plant, Arctic LNG-2, with capacity comparable to Yamal or higher and first production in around 2023. tracking emerging trends and opportunities in the future of energy. We also use third-party cookies that help us analyze and understand how you use this website. But opting out of some of these cookies may have an effect on your browsing experience. Contact Us. Home/News/ Huge gas reserves for “Arctic LNG-3” project. In 2014, Novatek established a subsidiary named the Arctic LNG-1. 16/10/2018. Arctic LNG 1 is 50.1 per cent owned by Novatek while France’s Total and China’s CNPC each hold 20 per cent stakes. You also have the option to opt-out of these cookies. The $21.3 billion Arctic LNG 2 project, sanctioned in 2019, will develop the Utrenneye field on the Gydan Peninsula. The fleet of LNG carriers are instrumental in Russia’s ambitious plan for the Northern Sea Route. In 2020, a total of 32,97 million tons of goods was shipped on the Northern Sea Route, up 1,5 million tons from 2019. Russia’s largest independent natural gas producer Novatek said subsidiary Arctic LNG-1 plans to conduct a geological survey, which if it leads to exploration could create more supply to … NOVATEK Company announced the discovery of the North-Ob gas field with reserves of at least 320 bln cubic meters and resources of over 900 bln cubic meters. They will also service the Arctic LNG 2 project that is currently under development. Timely decision: Russia's largest financing institution Sberbank reveals credit facility to Novatek and Arctic LNG 2 Photo: REUTERS/SCANPIX $3.6bn funds: Novatek-led LNG … ↑ "2017 World LNG Report" International Gas Union, Accessed June 20, 2017. This category only includes cookies that ensures basic functionalities and security features of the website. This involves the construction of three LNG trains, with a capacity of 6.6 million tonnes per annum (mtpa) of LNG each, and at least 1.6 mtpa of stable gas condensate. Write CSS OR LESS and hit save. Russia is preparing to make the earliest-ever shipment of liquefied natural gas to Asia, taking advantage of thinning ice in the Arctic Ocean and paving the way for a … The plan is for three 6.1-metric-MMtpy trains to be built. Novatek is set to order up to 42 new ice-hardened LNG... Malte Humpert, High North News-January 28, 2020. CTRL + SPACE for auto-complete. CLICK HERE FOR SPECIAL OFFER One month subscription for only$1, Advertising inquiries – [email protected], Commentary or Opinion – [email protected], Publisher – Alice Rogoff – [email protected], Arctic Today Editor – Krestia DeGeorge – [email protected]. The LNG industry’s success in the Arctic is a concern for scientists and environmental groups, who see a “feedback loop” with more ships speeding up the pace of warming in the region. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Huge gas reserves for “Arctic LNG-3” project. ENVIRONMENTAL CONCERNS. The Zvezda shipyards are limited to five vessels per year, not enough to meet all of Novatek’s transportation needs arising from the Arctic LNG 2 and Ob LNG projects, slated to open by the end of 2023, and planned Arctic LNG 1 and 3 projects. The Utrenneye field is the resource base for Arctic LNG 2. Ob LNG may include three trains with a capacity of 1.6 million mt/year each, to be launched in 2022 and 2023. Arctic LNG 1. Why did Leon Black pay $158m to Jeffrey Epstein? That entity the same year won the license to the Tryekhbugornoye field, a deposit with resources exceeding 1 trillion cubic meters of natural gas, Novatek informs. Novatek is building another large LNG plant, Arctic LNG 2, in Russia’s north, on the west coast of the Gydan Peninsula in the Gulf of Ob. The Arctic LNG 2 project will have a production capacity of 19.8mtpa and is due to export its first LNG cargo by 2023 - with the second and third train to start up by 2024 and 2026, respectively. As Arctic Ice Melts, Polluting Ships Stream Into Polar Waters August 28, 2020; Arctic Sea Ice Shrank to Record Lows in July August 6, 2020; Novatek Ships LNG to … ↑ "Yamal-Nenets government approves Salmanovskoye field development project for Arctic LNG-2," The Arctic, June 23, 2017. In order to deliver natural gas from its Arctic fields to Europe and Asia the company relies on a growing fleet of specialized ice-class LNG tankers. 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And NOVATEK is already eyeing Arctic 3. No investment decisions have been made on these projects. This website uses cookies to improve your experience while you navigate through the website. We'll assume you're ok with this, but you can opt-out if you wish. These cookies will be stored in your browser only with your consent. The license area partially located in the shallow waters of the Ob and Taz bays in … Novatek pays at least 30 percent of adjusted net income in dividends. This website uses cookies to improve your experience. Arctic LNG 2 is another LNG production-related project of NOVATEK. In an interview with S&P Global Platts in June, Novatek CEO Leonid Mikhelson said Ob LNG would be a smaller project than Yamal LNG and Arctic 2 LNG, and would be built with the company's own equipment and technology. Additional plants, Arctic LNG 1 and 3, may follow during the second half of the decade. 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