| Code: 179783 |

Novatek moves forward with Arctic LNG 2 project

Novatek announced a series of agreements that will advance the Arctic LNG 2. The company has signed two agreements regarding gravity-based structures (GBS) and turbo machinery equipment respectively.

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Novatek announced a series of agreements that will advance the Arctic LNG 2. The company has signed two agreements regarding gravity-based structures (GBS) and turbo machinery equipment respectively.

The Arctic LNG 2 project includes the construction of three LNG trains at 6.6 million tons per annum each, using gravity-based structure (GBS) platforms. The Project is based on the hydrocarbon resources of the Utrenneye field.

As of 1 December 2018, the Utrenneye field’s reserves under the Russian reserves classification totaled 1,978 billion cubic meters of natural gas and 105 million tons of liquids. OOO Arctic LNG 2 owns an LNG export license.

Now Novatek has signed an agreement on the design and construction of gravity-based structures (GBS), with the Russian company SAREN. The agreement provides for the design and construction of three GBS platforms for the Project’s natural gas liquefaction trains.

The work includes management, design, supply of materials and equipment, construction of three GBS structures at the Novatek-Murmansk plant, as well as commissioning and preparation for operations, including towing and installation of the GBS structures.

Novatek and Nuovo Pignone (Italy) also signed an agreement on turbo machinery equipment. The agreement regardards the supply of gas turbine compressors and gas turbine generators for the three liquefaction trains for the Arctic LNG 2 project.

Finally, Novatek signed a Memorandum on Strategic Cooperation about its current and future LNG projects with SACE . The parties will develop long-term cooperation on the Arctic LNG 2 project and potential new LNG projects involving Italian suppliers and engineering companies.

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