NOVATEK signed the basic terms of the agreement for the sale of the LNG terminal operator
NOVATEK signed the basic terms of an agreement with Total on the sale of its 10% stake in Arctic transshipment. Arctic Transshipment, a subsidiary of NOVATEK, is the operator of two LNG transshipment complexes under construction in Kamchatka and in the Murmansk region.
The terminals, Interfax explains, are designed to ensure efficient transportation of LNG from Arctic LNG-2 and other NOVATEK projects by arranging reloading from Arc7 ice-class LNG tankers to conventional vessels. Each of the terminals includes a 360,000 cubic meter floating LNG storage facility with two board-to-board transshipment points.
The capacity of the terminals in the Murmansk region and in Kamchatka will amount to 20 million tons per year. For the Kamchatka hub, it is possible to increase the capacity up to 40 million tons per year. Storage and transshipment vessels are being built at the South Korean shipyard Daewoo Shipbuilding & Marine Engineering. The order is expected to be ready by the end of 2022.