Page 10 - FSUOGM Week 23 2021

FSUOGM INVESTMENT FSUOGM

TotalEnergies invests in Novatek

LNG transshipment terminals

RUSSIA FRANCE’S TotalEnergies has come on board as cubic metre LNG storage unit. Construction is
a shareholder at two LNG transshipment termi- already underway and they are due to be ready
The terminals will nals that Russia’s Novatek is developing in Mur- for operations in 2023, the same year when
facilitate the flow of mansk and Kamchatka, the companies reported Novatek’s second LNG terminal, the 19.8mn tpy
Russian LNG to global on June 3. Arctic LNG-2, is due to come on stream.
markets. Under the share purchase agreement reached TotalEnergies is a shareholder in both Yamal
at the St Petersburg International Economic LNG and Arctic LNG-2.
Forum (SPIEF), TotalEnergies will take a 10% The MoU will see Novatek and TotalEnergies
interest in the Novatek subsidiary that owns both consider collaboration in producing and using
projects. The pair also signed a memorandum hydrogen as a fuel, and marketing carbon-neu-
of understanding (MoU) on working together tral products including LNG. They want to make
in the fields of decarbonisation, hydrogen and electricity generation at LNG facilities more
renewables. efficient, using methods such as waste heat uti-
Novatek’s two transshipment terminals will lisation, and will look at switching gas turbines
facilitate exports from its 16.5mn tonne per year to use hydrogen and building wind and other
(tpy) Yamal LNG plant and the other liquefac- renewable energy plants to power their facilities,
tion projects it is developing in Russia’s far north. reducing emissions further.
The terminals allow specialised ice-breaking “Our long-term goal is to provide the global
LNG carriers to offload their cargoes after markets with affordable, secure and low-carbon
clearing the Arctic Northern Sea Route (NSR). natural gas, and the co-operation with TotalEn-
The gas is then loaded onto standard tankers for ergies our partner is one way for us to contrib-
delivery to markets, saving both time and ship- ute to the decarbonisation of the global energy
ping costs. industry,” Novatek CEO Leonid Mikhelson said
Each terminal will be equipped with a 360,000 in a statement. ™

P10 www. NEWSBASE .com Week 23 09•June•2021