Pao Novatek now holds a 90% interest in the Arctic LNG 2 project after agreeing to sell a 10% stake to Total S.A. The agreement follows the agreement signed at 2018’s Saint Petersburg International Economic Forum.
The Arctic LNG 2 project will provide outputs using resources from the Utrenneye field. Once operational, the project’s three liquification trains will each produce 6.6 million tons per annum (MTPA) of LNG.
