Mitsui, JOGMEC to invest in Novatek's Arctic LNG 2 project
Mitsui & Co and Japan Oil, Gas and Metals National Corp (JOGMEC) are expected to agree on Friday to invest in the Arctic LNG 2 project being built by Russia’s largest independent gas producer Novatek, Jiji Press reported.
A memorandum on the investment by the companies will be signed on Friday in St. Petersburg, the Japanese news agency reported on its website, citing no sources. Mitsui President Tatsuo Yasunaga is visiting Russia for a conference and will sign the memorandum, Jiji said.
Last week, another Japanese newspaper reported that Mitsubishi Corp would also take a stake in the project.
A spokesman at Mitsui told Reuters on Thursday that it was continuing talks over the project with Novatek and was considering its economic prospects.
A spokesman at JOGMEC said it was considering collaboration opportunities in Novatek’s projects, including the Arctic LNG 2 project and was holding talks with Japanese companies involved, but he declined to give further details.
Mitsubishi said it was studying the project, but nothing has been decided.
Novatek said in April the company was at a final stage of talks to sell another 10 percent stake in Arctic LNG 2 but did not disclose the identity of any potential buyer.
The company also announced in April the sale of 20 percent of the project to two Chinese companies, and in March it agreed to sell a 10 percent stake to France’s Total. (Reporting by Yuka; writing by Aaron Sheldrick)
On the changing landscape of global natural gas trade, the US has magnified its export power by remaining a net exporter for 13 months as of February 2019.
EWAnalysis: US LNG producers eye major growth
- Energy Web Atlas
The US LNG market has experienced rapid growth over the past decade due to the availability of inexpensive feedstock and increased worldwide demand.
Regional Focus: Nigeria moves to expand its liquefaction capacity
The award in July 2018 of long-awaited contracts for the front-end engineering design (FEED) of Nigeria’s Train 7 gas plant expansion project to two consortia is the country’s latest attempt to address the enormous challenges of gas flaring and gas shortages for power plants and domestic consumption.
Reliable Operations & Saving OPEX for Gas Plant Refrigeration – Selecting the right technologies
By selecting integrally geared turbocompressors for gas plant refrigeration duty coupled with a mag bearing turboexpander, operators get the added values of technology with highly reliable operations and reduced OPEX. Join Sami Tabaza and Chris Blackmer from Atlas Copco Gas and Process for a presentation followed by Q&A surrounding the turbocompressor and turboexpander technologies that can efficiently and reliably fit your gas plant design and operation to get the advantages of both technologies.
June 18, 2019 10:00 AM CDT