Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » France’s Total says know-how for Russian Arctic LNG-2 to slash costs

    France’s Total says know-how for Russian Arctic LNG-2 to slash costs

    June 25, 2019
    Share
    Facebook Twitter LinkedIn WhatsApp
    Total plans biggest exploration focusing on commercial oil & gas
    *Total.

    St Petersburg — Russia’s Arctic LNG-2 project will be around a third cheaper to build than the country’s Yamal LNG plant thanks to technology being built by Italy’s Saipem, stakeholder Total said on Tuesday.

    Arnaud Le Foll, Total’s head officer in Russia, said Saipem was building so-called gravity-based structure platforms (GBS) for gas liquefaction for the Arctic plant. GBS platforms have been used often in North Sea and other gas projects but not in Russia.

    “There will be three such structures,” Le Foll told Reuters on the sidelines of a conference in St Petersburg. “They are being built in Murmansk by Novatek’s shipyard, it’s contracted with (Italy’s) Saipem.”

    Russian natural gas producer Novatek owns a 70% stake in the Arctic project, while Total and China’s CNPC and CNOOC each own 10%.

    The GBS platforms will be located near the Arctic Ocean coast and held in place on the seabed by ballasts.

    Novatek has estimated that the project will cost $20 billion-$21 billion, whereas the Yamal plant, operating since December 2017, cost $27 billion. The plant in the Arctic Gydan peninsula is due to start operations in 2022-2023, with a total annual capacity for 19.8 million tonnes of LNG, the largest such plant in Russia.

    Novatek and Total were also in the consortium that built the Yamal plant.

    “We are targeting the project that will be more economic by 20% to 30% comparing to Yamal,” Le Foll said, when asked how the GBS technologies will impact the costs of Arctic LNG-2.

    He declined to comment on Total’s exposure to contaminated Russian oil discovered two months ago. Total actively trades Russia-sourced oil.

    • Reuters

    Related News

    ADNOC Gas takes FID and awards $5b contracts for RGD project

    ‘Shell’s decision on Phase 2 of LNG Canada will depend on other opportunities’

    Nigeria loses N710bn to gas flaring in four months

    E-book
    Resilience Exhibition

    Latest News

    LASG approves seven dedicated truck parks for Lekki Port axis

    June 13, 2025

    NCDMB Executive Secretary joins AEW 2025 amid focus on enhancing local capacity

    June 13, 2025

    AfDB to provide $184.1m for Africa’s largest solar energy and battery storage project

    June 13, 2025

    NSC seeks closer collaboration with Police to boost port enforcement

    June 13, 2025

    Can the African Energy Bank transform the continent’s refining and downstream future?

    June 13, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.