Russia's Novatek on Track to Complete 2nd Train of Arctic LNG 2 in 2024 The final module for the 2nd production line of Russian gas producer Novatek’s Arctic LNG 2 project, departed from China last week. In February the company will integrate the last three modules ahead of towing the LNG train to the Gydan peninsula this summer. While US sanctions have not yet halted construction, it remains to be seen how much LNG Novatek will be able to sell.
Undeterred by Sanctions Novatek Begins Production at Arctic LNG 2 In spite of mounting international sanctions Russian gas producer Novatek has begun production at Arctic LNG 2 and the first shipment of liquefied natural gas is likely just weeks away. The company managed to successfully redesign its facility to replace Western technology with Chinese imports and a number of Arc7 LNG carriers will enter into service in 2024.
TotalEnergies Withdraws from Novatek Board Taking $3.7bn Loss As Novatek Announces Discovery of New Arctic Gas Field In an effort to further disentangle its involvement in Russian natural gas major Novatek, TotalEnergies vacated its spots on Novatek’s board of directors and announced a write off. The Russian company meanwhile found a new gas field boosting the prospects of a future Arctic LNG project.
Russian LNG to Europe Flies Under Radar; France’s TotalEnergies Continues Imports from Arctic Whereas imports of natural gas via pipeline have decreased substantially, the flow of Russian LNG into Europe continues unabated, with large volumes shipped by French major TotalEnergies.
