NOVATEK STARTED SIGNING CONTRACTS FOR LNG LOADINGS FROM THE NEW ARCTIC LNG 2 PROJECT.
Novatek has started signing contracts for the LNG loadings from the new project Arctic LNG 2. As the company reported on 2 April, during the international LNG conference in Shanghai, the Novatek trading division concluded two agreements for the LNG supplies.
The first document signed provides for the conclusion of a contract with the trading company Vitol S.A. for 15 years with an annual supply of 1mn t of LNG from the Arctic LNG 2 project, as well as from other Novatek projects. Gas will be supplied on FOB terms to transshipment terminals in the Murmansk region in Russia’s north and on Kamchatka peninsula.
The second agreement provides for a 15-year contract with Repsol with an annual supply of 1mn t of LNG from the Arctic LNG 2 project and other projects. It is assumed that LNG will be supplied mainly to the markets of the Iberian Peninsula.
Arctic LNG-2 provides for the construction of three trains for the production of LNG with a capacity of 6.6mn t/yr each on the basis of the gravitational type. Commissioning of the first stage is scheduled for 2022.
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