Novatek Provides Arctic LNG-2 Update

Russia's 19.8mn mt/yr Arctic LNG-2 project is moving ahead on schedule, its main shareholder Novatek said on June 12. The Russian gas company's CEO Leonid Mikhelson shared a videoconference with his counterparts at the project's other investors, France's Total, China's CNPC and Cnooc and Japan's Mitsui and Jogmec.

Overall the project, whose first train is due on stream in 2023, is at 19% complete. The concrete casing of the first gravity-based structure platform is 37%, while module fabrication yards are working at full capacity, Novatek said. Contractors have been fully mobilised and supply contracts signed and being fulfilled. Nine wells have been drilled at the Utrenneye field that will supply gas to the liquefaction plant, and three drilling rigs are in operation.

 Novatek said all shareholders had confirmed their commitment to delivering the project on time.