Page 15 - GLNG Week 17 2021

GLNG NEWS IN BRIEF GLNG

cargo, of 145,000 cubic metres, to the Krk (hereinafter – ECJ) has adopted the decision LNG sales and de-risks the project,” noted
LNG terminal. regarding Achema Grupe, UAB, and Achema, Leonid Mikhelson, Novatek’s chairman of the
The delivery is Croatia’s fifth cargo AB (hereinafter – the applicants) appeal. The management board. “This represents one of
imported since the launch of the terminal and applicants were seeking for annulment of the the most important milestones in attracting
is the first one originating from an EU port. European Commission Decision C(2013) the Project’s external financing that will be
“Since the terminal started in January 7884, by which State aid SA.36740 (2013/N), completed in 2021”.
2021, it has been a rather turbulent beginning granted by the Republic of Lithuania to NOVATEK, April 28, 2021
of operations, with pricing anomalies and AB Klaipedos nafta for implementation of
arbitrary situations on the global scale and the Klaipeda LNG terminal, was declared Novatek and Total sign
changes to the delivery schedule locally at the compatible with the internal market of EU
terminal. However, since March the arrival of (hereinafter – appeal). heads of agreement on
vessels to the terminal has stabilised,” Mario ECJ dismissed the appeal.
Matkovic, CEO of MET Croatia Energy Trade, ECJ’s decision is final and indisputable. acquiring a 10% stake in
said in the press release. KLAIPEDOS NAFTA, April 29, 2021
An additional two LNG cargoes are due Arctic Transshipment
to be delivered by MET Croatia to the Krk Arctic LNG 2 participants
terminal before the end of October 2021. Novatek signed a heads of agreement with
MET Croatia Energy Trade, part of Swiss- conclude long-term offtake Total on the sale of a 10% participation
based energy company MET Group, has interest in Arctic Transshipment.
booked an overall capacity of 2.67 bcm at the agreements Arctic Transshipment is Novatek’s wholly
Krk LNG terminal for a period of seven years. owned subsidiary that will eventual operate
The terminal, with annual import capacity Novatek announced today that its joint two LNG transshipment complexes currently
of 2.6 bcm, is a strategic project for Croatia as venture Arctic LNG 2 concluded 20-year under construction in the Kamchatka and
it will improve security of supply for Croatia LNG sales and purchase agreements (SPAs) Murmansk regions. The transshipment
and other countries in the region. It connects for the total LNG production volumes with complexes are part of NOVATEK’s logistical
to the national gas transport system through all the project’s participants. The LNG sales chain to optimise the use of the Arc7 ice-class
the newly built Omisalj-Zlobin pipeline. from Arctic LNG 2’s first liquefaction train is tanker fleet, with the aim to ensure efficient
planned to commence in 2023. and cost-effective LNG transportation from
The SPAs provide for LNG supplies from Arctic LNG 2 and other NOVATEK’s projects.
European Court of Justice Arctic LNG 2 on FOB Murmansk and FOB LNG cargoes will be transferred from the
Kamchatka basis with pricing formulas linked
Arc7 ice-class LNG tankers to conventional
decision regarding state to international oil and gas benchmarks. The tankers at each location. Each transshipment
LNG offtake volumes are set in proportion to
complex comprises of a floating LNG storage
aid for the Klaipeda LNG the respective participants’ ownership stakes unit with a capacity of 360,000 cubic meters
with two ship-to-ship transshipment points.
in the project.
terminal between Arctic LNG 2 and its participants NOVATEK, April 28, 2021
“The long-term offtake agreements
Today, April 29, the European Court of Justice ensure the future revenue stream from

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