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. — 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. Contact Us. 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. And NOVATEK is already eyeing Arctic 3. The $21.3 billion Arctic LNG 2 project, sanctioned in 2019, will develop the Utrenneye field on the Gydan Peninsula. 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. Subscribe to our daily newsletter. Write CSS OR LESS and hit save. ↑ "2017 World LNG Report" International Gas Union, Accessed June 20, 2017. Necessary cookies are absolutely essential for the website to function properly. 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 … Don’t miss our exclusive In fact, Gazprom produces far more gas from Yamal peninsula than NOVATEK. But opting out of some of these cookies may have an effect on your browsing experience. LNG gets most of the press, but a few hundred miles away, Gazprom is hard at work too. 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. Journalists in 50+ countries follow the constant flow of money made and lost in oil & gas while CTRL + SPACE for auto-complete. Construction of the plant began in 2018; a final investment decision (FID) was taken in September 2019. We also use third-party cookies that help us analyze and understand how you use this website. It also has Arctic LNG 1 and Obsky projects in the pipeline. 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 … China’s Silk Road Fund owns the remaining 9.9 per cent. 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 is being jointly developed by Novatek (60%) and Ekropromstroy (40%) with an estimated investment of $25.5bn. 16/10/2018. 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. 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]. This website uses cookies to improve your experience. 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The plan is for three 6.1-metric-MMtpy trains to be built. In 2014, Novatek established a subsidiary named the Arctic LNG-1. Arctic LNG 2 to debut in 2023. 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. Ob LNG may include three trains with a capacity of 1.6 million mt/year each, to be launched in 2022 and 2023. Huge gas reserves for “Arctic LNG-3” project. ↑Novatek Looks to Build Second Arctic LNG Plant," The Maritime Executive, March 29, 2017. 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. Bolshoy Kamen, January 20 - Neftegaz.RU. The fleet of LNG carriers are instrumental in Russia’s ambitious plan for the Northern Sea Route. 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. 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. If all the foreign backers of the massive energy project stick to their financial pledges, Arctic LNG 2 will receive … (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. Arctic LNG 1. The Utrenneye field is the resource base for Arctic LNG 2. This website uses cookies to improve your experience while you navigate through the website. tracking emerging trends and opportunities in the future of energy. Additional plants, Arctic LNG 1 and 3, may follow during the second half of the decade. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies will be stored in your browser only with your consent. 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). The license area partially located in the shallow waters of the Ob and Taz bays in … 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. 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. 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. 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 … These cookies do not store any personal information. 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. You also have the option to opt-out of these cookies. 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 … 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.. They will also service the Arctic LNG 2 project that is currently under development. 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. newsletter, Energy Source. 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Home/News/ Huge gas reserves for “Arctic LNG-3” project. 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. We'll assume you're ok with this, but you can opt-out if you wish. The total LNG capacity of the three trains will be 19.8 mtpa. Such dimensions automatically put it in the category of unique. 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. The lion’s share of the goods is LNG. 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. ↑ "Yamal-Nenets government approves Salmanovskoye field development project for Arctic LNG-2," The Arctic, June 23, 2017. No investment decisions have been made on these projects. Novatek is set to order up to 42 new ice-hardened LNG... Malte Humpert, High North News-January 28, 2020. The project is expected to have a production capacity of 19.8 million tons (Mt) of LNG a year. 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 … It is mandatory to procure user consent prior to running these cookies on your website. 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. Arctic LNG 2 is another LNG production-related project of NOVATEK. Novatek pays at least 30 percent of adjusted net income in dividends. General inquiries – [email protected] Advertising inquiries – [email protected] News tips – [email protected] Why did Leon Black pay $158m to Jeffrey Epstein? 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