Novatek says Arctic LNG 2 1st line ready by 78% by 2022

MOSCOW, Feb 17 (PRIME) -- The first line of the Arctic LNG 2 liquefied natural gas (LNG) project was ready by 78% by the end of 2021, and the entire project by 59%, shareholder Novatek said in a statement on Thursday.

"Overall completion of the Arctic LNG 2 project was estimated at 59% by the end of 2021, and construction of the first line by 78%," Novatek said.

Novatek holds 60% in the Arctic LNG-2 project, France’s Total owns 10%, China’s CNOOC and CNPC’s unit CNODC hold 10% each, while Japan Arctic LNG, a consortium of Japanese Mitsui & Co and JOGMEC, owns 10%. The launch of the first line is scheduled for 2023, of the second one for 2024 and the third for 2025.

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