NOVATEK talked about the progress of the Arctic LNG-2 project

This was reported on the company's website.

It is noted that during the meeting "the parties noted the progress of the project."

The report said that despite the difficulties associated with the pandemic of the coronavirus infection COVID-19, "it was possible to maintain the planned implementation schedule in all directions."

So, the overall progress of the project “is 19%. Concreting of the first OGT platform was completed by 37%. ”

It is reported that "manufacturers of modules are operating at full capacity, contractors for construction / EPC contracts are fully mobilized, supply contracts are concluded and are being implemented."

“Already 9 production wells have been drilled at the Morning Field, 3 drilling rigs are in operation. Taking into account the progress, the participants expressed confidence in observing the project implementation schedule, ”said NOVATEK.

In December 2019, Japanese Foreign Minister Toshimitsu Motegi advocated for enhanced cooperation with Russia on the Arctic LNG-2 energy project.

In June 2019, NOVATEK entered into an agreement with Mitsui / Jogmec on the sale of a stake in Arctic LNG-2.

Expert Alexey Grivach, in an interview with FBA Economics Today, commented on the message that the Japanese consortium Mitsui / Jogmec will buy 10% from Arctic LNG-2 from NOVATEK.