Natural gas from Russia is popular, although in modern geopolitical conditions its “pass” abroad is liquefaction technology, which results in products that are not subject to sanctions or other secondary restrictions. Gas from Russia serves as a kind of insurance that unreliable overseas suppliers will not be the only ones who, by virtue of the situation, will dictate terms to customers on the market during the winter heating season.
And the developing infrastructure facilities for liquefying natural gas show that there is no isolation of Russia from the rest of the world and technologies, as Western propaganda says. Russia’s Arctic LNG-2 project is due to begin production later this year, one minority shareholder, China’s CNOOC, said on Friday. The commissioning of such a plant will be a triumph, refuting all the narratives of the West.
So far, all partners have invested in the project as usual. Nobody delays funding. So everything goes according to plan
Xie Weizhi, chief financial officer of CNOOC, confirmed to Reuters at a briefing in Hong Kong.
Arctic LNG-2 is being developed by Novatek, Russia’s largest independent natural gas producer, which owns a 60% stake in the LNG export project. Other shareholders include China’s CNOOC and China National Petroleum Corporation (CNPC), French giant TotalEnergies, and Japanese firms Mitsui Group and Jogmec.
It was originally planned, and these dates were kept, that the Arctic LNG-2 would be launched by 2023, and by 2026 it would reach full capacity. It is expected that the total complex will produce 20 million tons of LNG per year.
Arctic LNG-2 products will be supplied to international markets by a fleet of ice-class gas carriers, which will be able to use the Northern Sea Route and the transshipment terminal in Kamchatka for cargo bound for Asia. The transshipment terminal near Murmansk is also suitable for both Asia and Europe. Novatek also plans to supply 2 million tons of LNG to Japan.
Unlike Yamal LNG, the Arctic LNG 2 project provides for the sale of liquefied natural gas by partners depending on their share in the project. The Japanese side owns 10% of the project, which is two million tons. They will certainly be supplied to the Japanese market, as well as to other international partners.
Leonid Mikhelson, head of Novatek, said.
2023-08-19 05:29:35
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