France's Total is planning to invest in the construction of Novatek LNG terminals in Murmansk an on the Kamchatka peninsula, acquiring a 10-percent stake in both projects, Total CEO Patrick Pouyanne said Thursday
MOSCOW (Pakistan Point News / Sputnik - 18th April, 2019) France's Total is planning to invest in the construction of Novatek LNG terminals in Murmansk an on the Kamchatka peninsula, acquiring a 10-percent stake in both projects, Total CEO Patrick Pouyanne said Thursday."We have just announced that we are investing in Arctic LNG 2, but we are also investing in terminals in Murmansk and Kamchatka. This is part of the agreement with Novatek. To develop Arctic LNG 2, we need two hubs - one in Murmansk, and the other in Kamchatka. And Total will be a partner in these two hubs," Pouyanne told reporters in Moscow.
"All this share is 10%. In addition, remember that we are also Novatek shareholders," he added.
Novatek plans to build an LNG transshipment and storage terminal in the Ura Bay in the Murmansk region. The volume of transshipment may reach 20 million metric tons per year. The Russian independent natural producer also plans to build an LNG transshipment point in Kamchatka with the volume of 20 million metric tons per year, with a possible increase to 40 million.
