BELOKAMENKA /Murmansk Region/, July 21. /TASS/. Russian gas company Novatek plans to supply some of the liquefied natural gas (LNG) it will get from the Arctic LNG 2 project to Japan, CEO Leonid Mikhelson has told reporters.
"Unlike Yamal LNG, the Arctic LNG 2 project envisages that the liquefied natural gas is marketed by partners, [depending on their] share in the project. The Japanese side holds 10% in the project, which amounts to two million tons. They will certainly be delivered to the Japanese market. However, contracts have already been signed to supply to Japan a portion of Novatek’s share as well, and more [potential contracts] are being discussed now," the Novatek CEO said.
Arctic LNG-2 is Novatek's second LNG project. It includes the construction of three lines for the production of liquefied natural gas with a capacity of 6.6 mln metric tons per year each and stable gas condensate up to 1.6 mln metric tons per year. The project shareholders include Novatek (60%), Total (10%), CNPC (10%), CNOOC Limited (10%) and Japan Arctic LNG, a consortium of Mitsui and Jogmec (10%).
The first line of the project is scheduled to be launched this year, the second one - next year, and the third one - in 2026.