BERLIN, September 18. /TASS/. German Cabinet is looking into an option to participate in Novatek’s Arctic LNG 2 project at the Gydan Peninsula in Russia’s Yamalo-Nenets Region, Der Spiegel reported Friday.
According to the report, Germany’s Euler Hermes may invest up to 300 million euro in the construction, while Linde chemical company may assist with natural gas liquefaction technologies. The final decision on participation in the project has not been made yet, the report says, citing governmental sources.
Arctic LNG 2 is Novatek’s second liquefied natural gas project. Besides the Russian company, Chinese CNOOC and CNPC, France’s Total and a consortium of Japan’s Mitsui and Jogmec have 10% share each. The plant’s three technological lines will have a total capacity of 19.8 million tonnes of LNG per year. The first line is scheduled for launch in 2023 and the second and third lines will go into operation in 2024 and 2026, correspondingly.