UPDATED 1 Sept: The EI library in London is temporarily closed to the public, as a precautionary measure in light of the ongoing COVID-19 situation. The Knowledge Service will still be answering email queries via email , or via live chats during working hours (09:15-17:00 GMT). Our e-library is always open for members here: eLibrary , for full-text access to over 200 e-books and millions of articles. Thank you for your patience.
Novatek secures Chinese partners for Arctic LNG 2
China National Petroleum Corporation (CNPC) and CNOOC are to each take a 10% stake in Novatek’s Arctic LNG 2 project in Russia.
The project, which will develop the resources of the Utrenneye field, will comprise three 6.6mn t/y LNG trains. Proved and probable (2P) reserves are put at 7,981mn boe.
Japan’s Mitsui & Co and Mitsubishi Corporation are also looking to acquire 10% stakes in Arctic LNG 2.
In other news, Novatek, Total, Siemens and Zarubezhneft have signed a memorandum of understanding (MOU) to develop an integrated energy-generating project utilising LNG in Vietnam. ‘The Vietnamese market is of great interest to us as the country’s economy and demand for electricity is forecast to grow at a fast pace, creating favourable conditions for
