the first tanker with Arctic LNG-2 will leave for Asia at the end of January – Kommersant
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Departure of the first liquefied natural gas (LNG) tanker from NOVATEK’s new project (MOEX: NVTK) Arctic LNG-2 to Asia is scheduled for the end of January 2024. Reuters reports this with reference to two industry sources. In December 2023, Russian Deputy Prime Minister Alexander Novak said that the first shipments from Arctic LNG-2 are expected in the first quarter of 2024.
One of the agency’s sources claims that shipment is expected to China or South Korea. According to another source, the ice-class tanker Christophe de Margerie will be used to transport the first batch of LNG from the project.
At the end of December 2023 NOVATEK warned clients about force majeure related to deliveries from Arctic LNG-2 due to sanctions that the United States imposed on the project in November last year. After this, as Kommersant learned, force majeure under their agreements in the project was announced by the foreign shareholders of Arctic LNG 2 – the French TotalEnergies, the Chinese CNPC and CNOOC, as well as the consortium of the Japanese Mitsui and JOGMEC. Each of them has 10% in Arctic LNG-2. NOVATEK itself owns 60%.
Arctic LNG-2 is part of NOVATEK’s project to build LNG production lines. The capacity of each will be 6.6 million tons per year, the volume of stable gas condensate will be up to 1.6 million tons per year. The company plans to open all lines by 2026.
Read more in the Kommersant article. “Arctic LNG-2 is now on its own”.
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