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Russia LNG

Arctic 2 LNG reaches $21-bln FID

VLADIVOSTOK, September 5, 2019 – Russia’s Arctic 2 LNG project achieved a milestone on Thursday with Novatek announcing an agreement with its partners on a final investment decision worth around USD 21.3 billion.

 

The three-train gas project located in the Gydan peninsula is expected to see its first train launched in 2023, with a second brought on line in 2024 and a third in 2026. Once complete, the trains will together produce 19.8 million tonnes of LNG per year.

A Novatek official said manufacturing for the project would be localised in Russia, with the plant’s gravity-based structures being built at the company’s LNG construction centre in the Murmansk region.

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