Gas Processing & LNG is Produced by Gulf Publishing Holdings LLC



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)


Copyright © 2019. All market data is provided by Barchart Solutions. Futures: at least a 10 minute delay. Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.

                                  CMEGroup                                     Icelogo

FEATURED COLUMNS

Editorial Comment
-Adrienne Blume
The continued expansion of natural gas trade is led primarily by growth in the LNG sector, which has tripled over the past 3 yr.
Industry Focus: The future of gas-to-power projects in Africa
-Shem Oirere
Natural gas is expected to play a central role in supporting Africa’s drive to achieve electricity connection for nearly 600 MM people without access to the grid, to reduce widespread reliance on coal for power generation, and to fast-track the continent’s slowed industrial expansion.
Regional Focus: Gazprom faces challenges for combined LNG/processing plant in Baltics
-Eugene Gerden
Russia’s largest natural gas producer, Gazprom, aims to build a giant project on the Russian Baltic seaport of Ust-Luga. The plans include the construction of a combined LNG and gas processing plant.


GasPro 2.0: A Webcast Symposium

Register Now

Following on the heels of the highly successful GasPro 2.0 Webcast Symposium in October 2018, the second GasPro Webcast Symposium 2.0 will take place on October 24, 2019.

The 2019 web event will gather experts in the fields of LNG, gas processing, and gas transport/distribution to share their operations expertise, engineering and design solutions, and technology advances and trends with our audience.

Attendees will learn about technology and operational solutions and deployments in a number of areas: plant design and expansion, construction, NGL production, optimization, sulfur removal, marine operations and separation technology.

October 24, 2019 08:30 AM CDT

Register Now

 

Please read our Term and Conditions, Cookies Policy, and Privacy Policy before using the site. All material subject to strictly enforced copyright laws.
© 2019 Gulf Publishing Holdings LLC.