The development will consist of three liquefied natural gas (LNG) trains, each with a capacity of 6.6 Mtpa, which will be installed on three gravity-based structure platforms. McDermott’s joint venture Qingdao McDermott Wuchuan Offshore Engineering (QMW) in Qingdao, China, has been awarded a large contract to provide three complex modules for Novatek’s Arctic LNG 2 Project in Russia. The Arctic LNG 2 project is 60% owned by Novatek. Construction began earlier this spring on the Gydan Peninsula, just across the Ob delta from the Yamal LNG project on the Yamal peninsula. Despite COVID-19, Novatek’s Arctic LNG 2 project remains on schedule. It is being jointly developed by Novatek (60%) and Ekropromstroy (40%) with an estimated investment of $25.5bn. Send your rosume to The two terminals will serve as a transfer point where LNG will be reloaded from ice-capable carriers to traditional ones for delivery to Europe and Asia. Companies sign deals to construct carriers for Arctic LNG 2. Write CSS OR LESS and hit save. It is located on the Gydan Peninsula, 70 kilometres across the Ob Bay from Yamal LNG. At the end of 2018 the company announced that it will deliver its product to the port of Zeebrugge in Belgium from where it can be distributed to Germany’s Ruhr region and across Europe. In comparison, Qatar, the world’s largest producer, exported around 80 million tons last year. TechnipFMC Awarded a Major Contract for the Arctic LNG 2 Project in West Siberia . by, McDermott completes raising $560M in new funds, McDermott bags NFS FEED job from Qatargas, Online session ‘Careers in Offshore Wind’- Powered by Navingo Career, McDermott’s China JV to build modules for Arctic LNG 2 project, Novatek last July closed the sale of participation interests in its Arctic LNG 2 Project, TechnipFMC was awarded a contract for work on the Arctic LNG 2, to participate in the Joint Venture for the realization of the Arctic LNG 2. please contact us via our advertising form where you can also see our media kit. These cookies will be stored in your browser only with your consent. This category only includes cookies that ensures basic functionalities and security features of the website. To lower the cost of the natural gas, the LNG trains will be built on top of three concrete gravity-based structures which will be held in position by their weight. Later that month, TechnipFMC was awarded a contract for work on the Arctic LNG 2. China acquires 20 percent stake in Novatek’s Arctic LNG 2 Project. The Arctic LNG 2 project aims to develop more than 7 billion barrels of oil equivalent (boe) of resources. Another key building block in Novatek’s strategy to export Arctic LNG to markets in Europe and Asia will be two transshipment hubs outside ice-covered waters near Murmansk, Russia and on the Kamchatka peninsula in the Far East. McDermott defines a large contract as between $50 million and $250 million. The project participants now include Novatek (60%), Total (10%), CNPC (10%), CNOOC (10%), and the Japan Arctic LNG (10%). The designation refers to McDermott’s share of the award via its joint venture. It is a new project for the construction of a gas liquefaction plant. Company profile page for Arctic LNG 2 OOO including stock price, company news, press releases, executives, board members, and contact information China’s National Offshore Oil Corp (CNOOC) and National Oil and Gas Development Co. (CNODC) signed up last week to acquire 10% each in the project. Fabrication for the modules is scheduled to start at the end of 2019 and be completed in mid-2022. China continues to invest in Arctic natural resources as two Chinese national oil companies secure a 20 percent stake in Novatek’s massive Arctic LNG 2 project. McDermott’s Senior Vice President Asia Pacific, Ian Prescott, said: “This award recognizes QMW’s experience and excellent performance in the Arctic on an earlier Yamal LNG project.”, He added: “Fabrication will be completed in QMW’s mega module workshop which provides increased certainty for safety, schedule and successful project delivery.”. Novatek sells stake in Arctic LNG 2 project to China CNOOC and a unit of Petrochina will take 10% stakes each in a project that is set to reach final investment decision stage by the second half of the year. When completed by 2023, the Arctic LNG 2 … Advertising inquiries – [email protected], Commentary or Opinion – [email protected], Publisher – Alice Rogoff – [email protected], Arctic Today Editor – Krestia DeGeorge – [email protected]. The Arctic LNG 2 project includes the construction of three LNG trains with a capacity of 6.6 million tonnes of LNG per annum (mtpa) each and another 1.6 mtpa of stable gas condensate. Total, the world's second largest private LNG player, owns 10 percent of interest in the project. It feeds China’s need for LNG. Wo aro targeting various profiles in many disciplines (Civil, Electrical, Mechanical, l&C, HVAC and layout). China continues to invest in Arctic natural resources as two Chinese national oil companies secure a 20 percent stake in Russia’s massive Arctic LNG 2 project. McDermott said that the work will take place at its QMW joint venture in China. Then in April Novatek cashed in by selling 20% in Arctic LNG-2 to Chinese CNOOC and CNODC, with … “Arctic LNG 2 will be a gamechanger in the global gas market.”. Two Chinese national petroleum companies each secured a 10 percent share in the project, the Russian company's second major one in the Arctic. China’s Wison Offshore & Marine has started fabrication work for Novatek’s Arctic LNG 2 project ahead of schedule, potentially resulting in cost benefits for developers, Kallanish Energy reports. Maybe a nice photo? Building on the success of that first project, Novatek is thus far sticking with the same project partners. Press release | July 23 2019 . French energy major Total, which holds a 20 percent stake in Yamal LNG, already bought a 10 percent share in Arctic LNG 2 last year. QMW will undertake fabrication engineering, partial procurement, construction, and pre-commissioning scope. 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. Novatek holds a 60 percent stake in the project, while its partners Total, Chinese CNPC and CNOOC and a Japanese consortium each hold 10 percent.Novatek had also solicited investments from Saudi Arabia and India, among others.Arctic LNG 2 is scheduled to open at the end of 2022 with the second and third production lines to follow in 2024 and 2026. The Arctic liquefied natural gas (LNG) 2 project is being developed in the Gydan Peninsula in the northern part of Siberia, Russia. The project is expected to have a production capacity of 19.8 million tons (Mt) of LNG a year. Why Arctic LNG-2? As the company announced, the China National Petroleum Corporation (CNPC) and the China National Offshore Oil Corporation (CNOOC) each secured a 10 percent share, mirroring closely the 20 percent stake CNPC holds in Yamal LNG. CLICK HERE FOR SPECIAL OFFER One month subscription for only$1. Thus far, the majority of Novatek’s Arctic LNG has been delivered to ports in Western Europe, namely Belgium, the Netherlands, France and the United Kingdom. The Utrenneye field is the resource base for Arctic LNG 2. ↑Novatek Looks to Build Second Arctic LNG Plant," The Maritime Executive, March 29, 2017. The project will be the Russian company’s second liquified natural gas production facility in the Arctic following on the heels of the Yamal LNG plant. The scope includes the fabrication of three pre-assembled unit complex process modules, McDermott said on Tuesday. China continues to invest in Arctic natural resources as two Chinese national oil companies secure a 20 percent stake in Novatek’s massive Arctic LNG 2 project. These cookies do not store any personal information. “The agreement is an important milestone in our Arctic LNG 2 project implementation as well as a continuation of our successful cooperation with CNPC,” noted Leonid Mikhelson, Novatek’s Chairman of the Management Board. This follows on from the divestment of a 10% stake to Total in March. The Wison Offshore & Marine started its procedures for the Novatek Arctic LNG 2 project. This website uses cookies to improve your experience while you navigate through the website. France's TOTAL owns 10%, China's CNPC and CNOOC own 10% each, and the Japanese consortium of Mitsui and JOGMEC owns a 10% stake. Also, if you’re interested in showcasing your company, product or technology on Offshore Energy Today, please contact us via our advertising form where you can also see our media kit. Novatek and the Belgian company Fluxys, operator of natural gas transmission and storage infrastructure, signed a 20-year contract for LNG transshipment services at Zeebrugge for up to 8 million tons per year. Malte Humpert, High North News-June 30, 2020. Novatek operates the Arctic LNG 2 project with a 60% stake. You also have the option to opt-out of these cookies. READ MORE: Shinzo Abe: Japan Considering Financing Russia's Yamal LNG Project Contact our editorial team via email. To bolster its position exporting LNG on long-term contracts Novatek signed two supply deals with Repsol and Vitol SA for up to one million tons of LNG each per year over a 15-year period. We also use third-party cookies that help us analyze and understand how you use this website. Specifically, the company announced that the project's manufacturing started on 29 November, at the Zhoushan yard in China. The project will be the Russian company’s second liquified natural gas production facility in the Arctic following on the heels of the Yamal LNG plant. Arctic LNG 2 Project. Have something more to add to the story? We'll assume you're ok with this, but you can opt-out if you wish. 1. "The issue of the development of the Arctic LNG project is being discussed. Currently, the company employs ship-to-ship transfers of LNG in Norwegian waters near Honningsvåg to reload up to 150 shiploads of LNG. The company intends to keep a 60% stake in the project. Offshore Wind With over 50 years of experience in the construction, manufacturing, supply and assembly of steel structures, Smulders was the logical choice for offshore wind structures back in the pioneering days of wind energy almost 20 years ago. Upcoming decision on Ob LNG. 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 field is located in the Gydan Peninsula in YNAO approximately 70 km across the Ob Bay from Yamal LNG. It concerns the participation of Chinese partners in a project similar to Yamal LNG," Novak said. Taking into account its 19.4 percent stake in Novatek, its overall share is 21.6 percent. The investment in the Russian project is a strategic move for China for a variety of reasons: It feeds China’s need for LNG: China is the world’s second-largest LNG market and needs to secure supplies fast. If a partnership does not come to fruition for this project, Saudi Aramco may yet become a partner on future projects as Novatek will begin the search for investors for its Arctic LNG 3 project before the end of 2019. Arctic LNG 2 is the second large-scale LNG project to be situated in Russia north of the Arctic Circle. earlier this spring on the Gydan Peninsula, 10 percent stake in the two proposed terminals, signed a 20-year contract for LNG transshipment, Greenpeace activists target Norwegian Arctic drilling rig, Arctic Council to hold ministerial meeting in Rovaniemi, Finland next week. French company Total earlier this month bought a 10 percent stake in the two proposed terminals, estimated to cost around $2.5 billion. But opting out of some of these cookies may have an effect on your browsing experience. Novatek last July closed the sale of participation interests in its Arctic LNG 2 Project to two Chinese companies and a consortium of two Japanese companies thereby forming the structure of the project’s participants. LONDON & PARIS & HOUSTON--(BUSINESS WIRE)-- Regulatory News: TechnipFMC (NYSE:FTI) (PARIS:FTI) (ISIN:GB00BDSFG982) has been awarded a major (1) Engineering, Procurement and Construction (EPC) contract by Novatek and its partners for the Arctic LNG 2 project located in the … Wo aro also recruiting for all levels Engineers, Technicians, Supewisors, Superintendent, and Managers for Oil and Gas Industry. OOO Arctic LNG 2 is the operator and owner of all the assets. For the records, in the past the Technip France S.A. … , March 29, 2017 started on 29 November, at the Zhoushan on... Project is a major liquefied natural gas arctic lng 2 project china led by Novatek on the Yamal LNG, it reportedly aims keep... The development of the adjacent Yamal LNG project is expected to be in range between 50m! 2019 and be completed in mid-2022 navigate through the website in Novatek, its overall share 21.6... Stake to Total in March, this leaves up to 150 shiploads of LNG led by Novatek the... 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