TotalEnergies has recently signed a Sale and Purchase Agreement (SPA) with Novatek to acquire 10 percent of Arctic Transshipment, a wholly owned subsidiary of Novatek, which owns and will operate two liquefied natural gas (LNG) transshipment terminals being built in the Murmansk and Kamchatka regions of Russia.

These terminals will provide export logistics services, including to the Arctic LNG 2 project under construction, and will each initially include a 360,000 cubic meters floating storage unit and two ship-to-ship transfer kits. They will allow for the transshipment of LNG from Arc7 ice class LNG carriers, which provide transport on the iced waters of the Arctic Ocean, to conventional LNG carriers, which take care of the remaining delivery.

TotalEnergies and the acquisition of Arctic Transshipment

«We are pleased to have signed this acquisition with Novatek, our long-standing strategic partner, which is in line with our strategy of integration along the entire LNG value chain. These terminals mark an important step in the advancement and consolidation of the Arctic LNG 2 project, and will contribute to the safe and sustainable export of cargoes from our existing and developing Yamal projects», declared Patrick Pouyanné, Chairman and CEO of TotalEnergies, on the occasion of the signature at the Saint Petersburg International Economic Forum.

Second largest global LNG player

TotalEnergies is a 19.4 percent shareholder in Novatek and holds a 20 percent stake in Yamal LNG, a project that started up in December 2017 and produced more than 18.8 million tons of LNG in 2020. The company also holds a 10 percent stake in Arctic LNG 2, a project currently under construction and on track to deliver its first LNG cargo in 2023.

TotalEnergies is the world’s second largest publicly traded LNG player, with a global market share of around 10 percent. TotalEnergies also benefits from strong and diversified positions throughout the LNG value chain, including gas production, LNG transportation, LNG trading, and some recent development in the LNG industry for maritime transport.

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