Liquefied natural gas (LNG) from the Russian project Arctic LNG-2 in the volume of up to 1.6 million tons (approximately 2.2 billion cubic meters) will be delivered to China. Two corresponding long-term contracts were signed by the operator of the project – the company “Novatek” with the Chinese partners. This was reported by the press service of the Russian company.
Under the first contract with Zhejiang Energy, up to 1 million tons of Russian LNG will be shipped over 15 years. The second, with ENN Natural Gas, will ship 0.6 million tons of LNG over 11 years. Both contracts are concluded on DES terms, i.e. the Russian company will deliver the cargo to Chinese terminals by its own tankers.
The project “Arctic LNG-2” provides the construction of three lines for the liquefaction of natural gas, each with a capacity of 6.6 million tons (total capacity – 19.8 million tons per year). The first train of Arctic LNG-2 is scheduled to be commissioned in 2023, the second in 2024, and the third in 2026. Gas for liquefaction will be supplied from the Utrenneye field on Yamal. As of December 31, 2020, the field’s proven and probable reserves amounted to 1,434 billion cubic meters of gas