Novatek and partners take FID on $21.3bn Arctic LNG 2 project

first_imgLocated in northern Siberia, the Arctic LNG 2 project will comprise a 19.8mtpa LNG plant and the development of the Utrenneye onshore gas and condensate field FID taken by Novatek and its partners on the Arctic LNG 2 project (Credit: Pixabay) Novatek and its partners have approved the final investment decision (FID) for the Arctic LNG 2 project, to be developed with an estimated cost of $21.3bn (£17.28bn) in northern Siberia, Russia.The Arctic LNG 2 project consists of a natural gas liquefaction plant to be built on the Gydan Peninsula in the Russian Arctic region, and the development of the Utrenneye field. The feedstock for the Arctic LNG 2 project will come from the Utrenneye onshore gas and condensate field, which is estimated to hold more than seven billion boe of resources.Through its three liquefaction plants, the Russian LNG project will have an overall production capacity of 19.8 million tons per annum (mtpa).Each of the LNG trains will have a capacity of 6.6mtpa, and will be installed on concrete gravity based structures (GBS). The first of the trains is scheduled to be commissioned in 2023, while the second and third trains are likely to begin operations in 2024 and 2026, respectively.Novatek management board chairman Leonid Mikhelson said: “Today, we have taken another step forward in our goal to become one of the largest LNG producers in the world by approving the final investment decision on our second large-scale LNG project – Arctic LNG 2.“We are confident that the accumulated construction experience, state-of-the-art technologies, proven logistics solutions and partnerships with best-in-class international companies will ensure the effective implementation of our new LNG project.”A consortium made up of TechnipFMC, Saipem, and Nipigas (Russia) will handle the engineering, procurement and construction of the LNG plant. On the other hand, design and construction of GBS will be executed by SAREN, a joint-venture of RHI Russia and Saipem.Novatek said that drilling of production wells and construction of the production infrastructure for the Utrenneye field are in progress.Stakeholders in the Arctic LNG 2 projectNovatek is the operator of the Arctic LNG 2 project with 60% stake, and is partnered by Total (10%), CNPC (10%), CNOOC (10%) and the Japan Arctic LNG – a consortium of Mitsui & Co and JOGMEC (10%).Total, which holds a stake of 19.4% in Novatek, will have an aggregated economic interest of 21.6% in the Russian LNG project.All the participants will be entitled to long-term LNG offtake from the Arctic LNG 2 project in proportion to their respective stakes.Total chairman and CEO Patrick Pouyanné said: “Arctic LNG 2 will leverage the success of the Yamal LNG project and will deliver competitive LNG to the markets in four years’ time.“Arctic LNG 2 adds to our growing portfolio of competitive LNG developments based on giant low cost resources primarily intended for the fast growing Asian markets.”last_img read more

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Coronavirus came to New York from Europe, not China: Governor

first_imgBut Cuomo took aim at what he described as a slow reaction by the country’s leaders, even as increasingly disturbing reports emerged out of China in January and February about how quickly the virus was spreading and killing people.Read also: NY’s Cuomo says Trump agrees to help expand coronavirus testingCuomo said as many as 2.2 million people took flights from Europe to New York and New Jersey airports in those two months, many of them likely carrying the highly contagious respiratory illness COVID-19.”We acted two months after the China outbreak. When you look back, does anyone think the virus was still in China waiting for us to act two months later?” Cuomo said. “The horse had already left the barn by the time we moved.”Cuomo said it was important that the country learns from the mistakes that were made because the virus could surge again in autumn or a new virus could emerge. “It will happen again. Bank on it. Let’s not put our head in the sand,” he said.He said it was too early to reopen his state, which is in lockdown until at least May 15. He said the three-day rolling average for people newly admitted for COVID-19 was holding stubbornly around 1,300 per day, a worrisome sign.But on a positive note, he said hospitalizations for COVID-19 totaled 14,258 on Thursday, declining for the tenth straight day. He reported 422 additional deaths, the lowest daily total since March 31.  Topics : “We closed the front door with the China travel ban, which was right,” Cuomo told a briefing. “But we left the back door open because the virus had left China by the time we did the China travel ban.”With his comments, Cuomo thrust himself into a heated and politically fraught debate about when and how the virus first entered the United States and whether officials like Trump and himself could have saved more lives if they had acted sooner.Cuomo defended his own actions by pointing to the 19 days between New York’s first confirmed case and his lockdown order, arguing that he had moved faster than any other state.He also said Trump, who last week halted US contributions to the World Health Organization after accusing it of promoting China’s “disinformation” about the outbreak, was right to question whether the WHO responded properly to the crisis. New York Governor Andrew Cuomo on Friday pointed to research showing that strains of the novel coronavirus entered his state from Europe, not China, and said that travel bans enacted by US President Donald Trump were too late to halt its spread.Cuomo cited research from Northeastern University estimating that more than 10,000 New Yorkers may have contracted the disease by the time the state had its first confirmed case on March 1. He said he believed Italy was the likely source.The governor noted that Trump ordered a ban on travel from China on Feb. 2, more than a month after news reports had emerged about an outbreak in the city of Wuhan, and decided to restrict travel from Europe the following month. By that time, the virus had spread widely in the United States, he said.last_img read more

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