Chinese companies due Arctic LNG 2 stakes

CNOOC Ltd. and China National Oil & Gas Exploration & Development Co., a wholly owned subsidiary of China National Petroleum Corp., have signed agreements to acquire 10% interests each in the Arctic LNG 2 plant to be built by Novatek on the Gydan Peninsula of Russia.

Novatek plans three liquefaction trains with capacities of 6.6 million tonnes/year each on gravity-based structure platforms. Gas will come from Utrenneye field.

Total earlier acquired a direct 10% interest in Arctic LNG 2 (OGJ Online, Mar. 5, 2019).