Novatek has concluded long-term agreements for the supply of LNG from the Arctic LNG-2 project with the Chinese ENN Natural Gas and Zhejiang Energy companies. This is stated in the message of the Russian company.
Novatek has agreed with Zhejiang Energy to supply 1 million tons of LNG per year for 15 years. The agreement with ENN Natural Gas provides for the supply of about 0.6 million tons of LNG per year for 11 years. LNG will be delivered to the receiving terminals of the companies in China.
Arctic LNG-2 is Novatek's second LNG project. The project provides for the construction of three lines for the production of liquefied natural gas with a capacity of 6.6 million tons per year each and stable gas condensate up to 1.6 million tons per year. The resource base of the project is the Utrenneye field located on the Gyda Peninsula in the Yamalo-Nenets Autonomous Okrug. The launch of the first line is planned in 2023, the second and third lines - in 2024 and 2026, respectively. In addition to Novatek (60%), the project participants are the Chinese CNOOC and CNPC, the French Total and the consortium of Japanese companies Mitsui and Jogmec (all have 10%).