Arctic LNG 2 progesses

Thursday, 25 June 2020
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PAO NOVATEK held a working meeting last week to look at progress made on the Arctic LNG 2 project.

The meeting, which took place as a video-conference, was attended by the project’s partners Leonid Mikhelson (NOVATEK), Patrick Pouyanné (Total), Dai Houliang (CNPC), Wang Dongjin (CNOOC), Tatsuo Yasunaga (Mitsui) and Tetsuhiro Hosono (JOGMEC).

During the meeting, they noted that despite the impact of COVID-19, the project’s participants managed to meet the schedule in all areas.

Currently, its overall progress is estimated at 19%, with concrete casting of the first GBS platform estimated to be 37% complete. At the meeting, the partners expressed confidence that the project will commence on time based on the current progress.

In addition, significant progress had been made in contracting LNG volumes from Arctic LNG 2. The current status of the project’s external financing was also discussed with the focus on ensuring its completion on schedule.

"We held the first joint meeting with the CEO’s of our partners in Arctic LNG 2 to discuss the current progress in a virtual format,” explained Leonid Mikhelson, NOVATEK’s Chairman of the Management Board.

“This unique project employs an innovative construction concept using gravity-based structures, or GBS, a logistical scheme with year-round navigation via the Northern Sea Route, as well as extensive localisation of equipment and materials manufacturing in Russia. All shareholders confirmed their best efforts to implement the project according to our time schedule,” he said. 

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