Novatek and Pavilion Energy signed an agreement expanding their collaboration in LNG supply and trading. According to the agreement, Pavilion Energy will consider a possible participation in Novatek’s Arctic LNG 2 project.
The agreement between the two companies includes a possible participation of Pavilion Energy in Novatek’s Arctic LNG 2 project. Pavilion will also consider booking volumes at the project.
In addition, Novatek and Pavilion Energy will cooperate on LNG supply and trading.
They will also review joint investments and arrangements for LNG carriers, storage, reload and transshipment facilities.
The Arctic LNG 2 project includes the construction of three LNG trains at 6.6 million tons per annum each, using gravity-based structure (GBS) platforms. The Project is based on the hydrocarbon resources of the Utrenneye field.
As of 31 December 2017, the Utrenneye field’s reserves under the Russian reserve classification totaled 1,582 billion cubic meters of natural gas and 65 million tons of liquids. OOO Arctic LNG 2 owns an LNG export license.
