The Project will build three liquefaction trains capable of producing a total of 19.8 MTPA of LNG and 1.6 MTPA of SGC.
The limited liability company Arctic LNG 2 operates and owns all the assets. It is a joint venture of NOVATEK (60%), TOTAL Group (10%), Chinese corporations CNPC (10%) and CNOOC (10%), and JAPAN ARCTIC LNG (a consortium between Japanese MITSUI and JOGMEC) (10%).
The Arctic LNG 2 Project taps into the resource potential of the Utrenneye field. According to PRMS standards, the proved and probable reserves of the Utrenneye field are 1,434 bcm of natural gas and 90 mmt of liquid hydrocarbons.
In 2018, we completed the front-end engineering design (FEED) and started site preparation, construction of early phase power supply facilities, production wells drilling, and construction of the quayside.
The participants of Arctic LNG 2 approved a final investment decision (FID) for the project in September 2019. Capital expenditures to launch the project at full capacity is estimated at $21.3 billion equivalent.
The GBS design concept as well as extensive localization of equipment and materials manufacturing in Russia will allow to considerably decrease the CAPEX per ton of LNG produced under this project. This will ensure a low cost structure of products and maximum competitiveness across the LNG markets.
