Novatek in Arctic LNG 2 Deal with TechnipFMC

Russian largest independent gas producer and liquefied natural gas (LNG) player Novatek (NVTK.ME) signed a deal with TechnipFMC for its Arctic LNG 2 project.

The contract was signed on engineering, procurement, supply, construction and commissioning (EPC) of an integrated liquefied natural gas facility with an annual liquefaction capacity of 19.8 million tons under the Arctic LNG 2 project, said a press release from the Russia's second largest natural gas producer.

The contract terms provide for the launch of the first train of the project in 2023, said the release.

“The team, which implemented the unique Yamal LNG project in record time and on budget, has now joined an even larger and more innovative project,” noted Novatek’s Chairman of Management Board Leonid Mikhelson.

“We are confident that the accumulated experience of mutual cooperation on the construction of LNG plants in the Arctic zone will also ensure the successful and timely implementation of our new project Arctic LNG 2,” Leonid added.

The Arctic LNG 2 project envisages constructing three LNG trains at 6.6 million tons per annum each, using gravity-based structure (GBS) platforms.