Russia: TotalEnergies Acquires 10% of Arctic Transshipment LLC from Novatek
June 03 2021 - 9:42AM
Business Wire
Regulatory News:
TotalEnergies (Paris:TTE) (LSE:TTE)
(NYSE:TOT) has signed a Sale and Purchase Agreement (SPA) with
Novatek to acquire 10% of Arctic Transshipment LLC, 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 m3 floating
storage unit (FSU) and two ship-to-ship transfer kits (STS). 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. By limiting the use of Arc7 ice class LNG
carriers, this optimization of the logistic reduces the costs and
CO2 emissions of the LNG transport.
"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,” said Patrick Pouyanné,
Chairman and CEO of TotalEnergies, on the occasion of the signature
at the Saint Petersburg International Economic Forum.
TotalEnergies is a 19.4% shareholder
in Novatek and holds a 20% 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% stake in Arctic
LNG 2, a project currently under construction and on track to
deliver its first LNG cargo in 2023.
TotalEnergies, Second Largest Global LNG Player
TotalEnergies is the world's second largest publicly traded LNG
player, with a global portfolio of nearly 50 Mt/y by 2025 and a
global market share of around 10%. Thanks to its interests in
liquefaction plants in Angola, Australia, Egypt, the United Arab
Emirates, the United States, Nigeria, Norway, Oman, Russia and
Qatar, the company markets LNG on all world markets. 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.
____
About TotalEnergies
TotalEnergies is a broad energy company that produces and
markets energies on a global scale: oil and biofuels, natural gas
and green gases, renewables and electricity. Our 105,000 employees
are committed to energy that is ever more affordable, clean,
reliable and accessible to as many people as possible. Active in
more than 130 countries, TotalEnergies puts sustainable development
in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.
Cautionary Note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TotalEnergies SE directly or indirectly owns investments are
separate legal entities. TotalEnergies SE has no liability for
their acts or omissions. In this document, the terms
“TotalEnergies”, “TotalEnergies “Company” and “Company” are
sometimes used for convenience. Likewise, the words “we”, “us” and
“our” may also be used to refer to subsidiaries in general or to
those who work for them. This document may contain forward-looking
information and statements that are based on a number of economic
data and assumptions made in a given economic, competitive and
regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither
TotalEnergies SE nor any of its subsidiaries assumes any obligation
to update publicly any forward-looking information or statement,
objectives or trends contained in this document whether as a result
of new information, future events or otherwise.
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TotalEnergies Contacts Media Relations: +33 1 47 44 46 99
l presse@totalenergies.com l @TotalEnergiesPress Investor
Relations: +44 (0)207 719 7962 l ir@totalenergies.com
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