Page 9 - AsianOil week 23

AsianOil
SOUTHEAST ASIA
AsianOil
to have begun building a second facility with a capacity of 7.5 million tonnes per year, which is slated for start up by 2022.
In addition to boosting LNG imports, listed upstream arm PTT Exploration and Production (PTTEP) has unveiled plans to raise its gas pro- duction in neighbouring Myanmar. e com- pany aims to increase output from the Zawtika gas block to 400 mmcf (11.33 mcm) per day up from 290 mmcf (8.21 mcm) per day at present. Zawtika supplies both ai and Myanmar gas demand. M3, meanwhile, is slated to produce 60
mmcf (1.7 mcm) per day during its rst stage of production.
The additional volumes will go towards underpinning construction of a new 600 MW gas- red thermal power plant (TPP) in Myan- mar, which PTT Exploration and Production (PTTEP) and a liated Global Power Synergy (GPSC) agreed to build at the start of June.
PTTEP has interests in six on- and o shore gas fields in Myanmar: an 80% stake in both Zawtika and M3; 19.3% of Yetagun; 25.5% of Yadana; 100% of M11, and 50% of MD-7.™
EAST ASIA
Chinese firms sign raft of deals with Novatek
PROJECTS & COMPANIES
CNOOC Ltd and
China National Petroleum Corp. (CNPC) are buying 10% stakes in the Arctic LNG 2 project
NOVATEK has signed a slew of deals with Chi- nese companies during the St Petersburg Inter- national Economic Forum (SPIEF). It sealed share purchase agreements with CNOOC Ltd and China National Petroleum Corp. (CNPC), noting these sales were expected to close “in the nearest future”, Novatek said on June 7.
Both Chinese companies are buying 10% stakes in the Arctic LNG 2 project. e sales require approval from both the Russian and Chinese governments.
e same day, Novatek announced an agree- ment on the Maritime Arctic Transport (MArT) company, with China COSCO Shipping, Sovcom ot and the Silk Road Fund (SRF).
is deal is intended to establish a partner- ship to develop, nance and implement a year- round arrangement to ship gas from Russia’s Arctic into the Asia Paci c. It will also aim to oversee shipping, via the Northern Sea Route, between Asia and Western Europe.
Novatek’s chairman, Leonid Mikhelson, said this was an “important milestone in developing
the transportation of LNG produced by our Arctic projects along the Northern Sea Route”. MArT will transform the Northern Sea Route into a “global and commercially e ective trans- portation corridor between the Pacific and Atlantic basins, as well as in the implementation of the decision made by the leadership of the Russian Federation to increase Northern Sea Route annual cargo tra c to 80 million tonnes in 2024”.
On June 5, Novatek announced it had signed a heads of agreement (HoA), with Sinopec and Gazprombank, on establishing a joint venture to sell LNG and gas in China. is move, Mikhel- son said, will allow it to sell LNG produced but also invest in the “end-customer segment”.
Arctic LNG 2 is widely expected to reach a nal investment decision (FID) this year. In May, a contract for engineering, procurement, supply, construction and commissioning on the plant was signed with TechnipFMC. e plant will have 19.8 million tpy of capacity, with the rst train launched in 2023.™
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