Russia’s Novatek on Thursday announced the launch of a major liquefied natural gas project in the Arctic with Chinese, Japanese, and French partners.
The company, Russia’s largest independent natural gas producer, said that a “final investment decision” had been made on financing the $21 billion Arctic LNG 2 project with partners including France’s Total, CNPC and CNOOC of China, and a Japanese consortium.
The announcement came during Russia’s Eastern Economic Forum in Vladivostok, where President Vladimir Putin is hosting Asian leaders including Japanese Prime Minister Shinzo Abe and Indian Prime Minister Narendra Modi.
The Arctic LNG 2 will see the development of the Utrenneye field and the building of a natural gas liquefaction plant on the Gydan Peninsula in Russia’s Arctic.
The plant will have a capacity of 19.8 million metric tons and its first exports are expected in 2023.
-
Eni reports huge oil, gas find in Nigeria
Italian oil major Eni said on Wednesday that Nigerian subsidiary Agip has found lots of gas and oil in an onshore facility in the Niger delta, raising ... Economy -
Tunisia’s Nawara gas field starts, ups national output by 50 pct
Tunisia’s Nawara natural gas field has started production, increasing national gas output by 50%, the state news agency said on Friday. The ... Energy -
Erdogan says Turkey to press ahead with gas search off Cyprus
Turkish President Recep Tayyip Erdogan on Thursday hit out at EU measures to punish Ankara for drilling activities in the eastern Mediterranean and ... Energy -
Egypt’s Zohr gas field production rises to 2.7 bln cubic feet per day: Minister
Natural gas production at Egypt’s Zohr field, the largest gas field in the Mediterranean, has increased to 2.7 billion cubic feet (bcf) per day, ... Energy