Russia: TotalEnergies Acquires 10% of Arctic Transshipment LLC from Novatek
TOTAL SA (TOT)
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Source: Business Wire
SAINT PETERSBURG, Russia--(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
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