Novatek Announces Major Offshore Gas Find in Russian Arctic

11/10/2018 08:58 LNG

news

Russian gas and LNG firm Novatek announced Wednesday that it has found a major new gas field in the Gulf of Ob, just off the Yamal Peninsula in the Russian Arctic.

The new North-Obskoye field has estimated reserves of more than 320 billion cubic meters (bcm) of natural gas, and its total resources are estimated at more than 900 bcm. These reserves estimates will be submitted to the Russian State Reserves commission for confirmation in November 2018.

 

If the results are proven, the field will provide a major boost for Novatek's proposed Arctic LNG 2 export plant, which will be located just across the Gulf of Ob from the existing Yamal LNG site. French oil major Total has agreed to take a 10 percent interest in the new project, paralleling its early investment in Yamal.

 

The current plan for Arctic LNG 2 calls for three "gravity-based structures" to be deployed in the Gulf of Ob, each of which will support one 6.6 mpta gas liquefaction train. If the plan receives a positive final investment decision and proceeds on schedule, it would begin production in late 2023. It will draw on the two trillion cubic meters of gas reserves available from the onshore Utrenneye gas field, but the North-Obskoye find greatly increases the site's potential.

Source: maritime-executive.com

Daily (12.06.2019): EU carbon prices dropped by almost 1% due to a weaker energy complex

12/06/2019 09:47:00

Oil prices were flat on Tuesday, amid uncertainty regarding the agreement of Saudi Arabia and Russia to extend a crude output-cutting deal. Meanwhile, U.S.-China trade tensions continue to put pressure on demand for crude. As a result, Brent crude remained untraded at $62.29, while WTI futures edged 0.02% higher at $53.27 a barrel.

<READ MORE

PGNiG buys stakes in Total’s Norway licenses

12/06/2019 09:16:00

Polish state-controlled oil and gas company PGNiG announced the acquisition of stakes in two licenses owned by French supermajor Total, Kallanish Energy learns.

READ MORE

Shell ships first LNG cargo from Prelude platform

12/06/2019 09:07:00

Anglo-Dutch energy major Shell on Tuesday announced its first shipment from its Prelude floating liquefied natural gas (FLNG) platform.

READ MORE