Page 20 - GLNG Week 37

GLNG NEWS IN BRIEF GLNG

EUROPE

Russia’s Sberbank could

lend over €2.7bn to
Novatek’s Arctic LNG-2

Russia’s largest bank, state-controlled
Sberbank, is ready to finance the liquefied
natural gas (LNG) project Arctic LNG-2 of
gas major Novatek, Interfax reported citing
the bank’s deputy chairman of the executive
board, Anatoly Popov.
According to Popov, the bank’s financing
for the project might exceed the €2.7bn
provided to the first LNG project of Novatek –
Yamal LNG.
The Arctic LNG-2 project consists of three
as floating storage units will allow competitive of SLNG’s slew of initiatives under its Green liquefaction trains each capable of producing
development and promote the conversion of Strategy, and is expected to be completed by 6.6mn tonnes per year (tpy) of LNG. The first
new generation units in regions where the Q4 2020. This rooftop solar power system will is due on stream in 2023, while the second
volume of consumption warrants economic generate around 800 megawatt hours (MWh) and third are slated to begin operations in
solutions at scale. of renewable energy and has the potential 2024 and 2026.
This initiative also allows the necessary to avoid an estimated 300 tons of carbon VTB Capital (VTBC) on September 11
resilience until the second Natural Gas storage dioxide emissions, annually. For comparison, reminded investors that Novatek has recently
tank that is currently being developed by the the average monthly household electricity announced that it has moved the signing of
Energía Natural Dominicana consortium consumption of a four-room public housing the project financing for Arctic LNG-2 to
(ENADOM) in the Dominican Republic in Singapore is around 354 kilowatt hours 2021, while around 23% of the project’s capital
is ready and which plans to enter into (KWh); and it takes an estimated 4,900 trees programme (guided at $20bn-21bn) has
commercial operation in 2023; a strategic to sequester 300 tons of carbon dioxide. already been financed by the shareholders.
infrastructure to continue positioning the Mr Tan Soo Koong, CEO of SLNG, “Although the steep drop in spot LNG
country as a regional hub. said: “SLNG is committed to doing its part prices and lack of interest among LNG buyers
This proactive solution has provided to help fight climate change and promote for long-term contracts might provide some
additional leverage for current negotiations environmental sustainability; and the use of obstacles for securing project financing, the
with suppliers and is strengthening the solar energy at our Terminal is just a modest support from Sberbank or other Russian
position in the market as a leading provider of first step. We are also actively exploring banks would be helpful for the project,” VTBC
secure and competitive solutions, through the ways to catalyse the use of LNG and other believes, seeing the news as positive.
infrastructures integrated with the AES Colón green energy alternatives. For one, we are Novatek previously planned to attract
Natural Gas terminal in Panama and the AES looking into collaborations to develop new $9bn-11bn in project financing for Arctic
Andrés terminal, in the Dominican Republic. infrastructure in Singapore to promote LNG-2 (around 50% of total capex). VTBC
AES, September 16, 2020 the use of LNG as a cleaner marine fuel. does not expect any immediate reaction on
For another, we are working with various the stock from the news and reiterates Hold
partners to develop technologies related to recommendation for Novatek’s shares.
ASIA the importation, transportation and storage of
hydrogen.”
SLNG terminal to implement Environment first. Our projects are built
“Total Solar DG puts Health, Safety and
solar energy system by and operated with best-in-class techniques
and processes. We are proud to be trusted
Total Solar DG by SLNG to implement such a prestigious
project. Total Solar DG has unique experience
Singapore LNG (SLNG) and Total Solar delivering solar for complex, high-risk
Distributed Generation (DG) have signed an environments. This comes from Total Group’s
agreement for solar power to be implemented 100-year experience operating energy assets
at the Singapore LNG Terminal on Jurong across the world. We are pleased to be SLNG’s
Island. Under the agreement, Total Solar DG partner of choice, to help cut costs and carbon
will finance, build and operate a 600 kilowatts emissions, without compromising on safety,”
peak (kWp) rooftop solar power system, said Mr Gavin Adda, CEO of Total Solar DG
which will be installed on the rooftops of Southeast Asia.
several buildings at the terminal. SINGAPORE LNG, September 16, 2020
The installation of the solar panels is part

P20 www. NEWSBASE .com Week 37 18•September•2020