Novatek to invest in offshore construction yard in Murmansk

Russian energy firm Novatek has signed a memorandum of understanding to invest in an offshore facilities construction yard.

The company, one of Russia’s largest private gas producers, said the MoU was signed as part of 21st Saint Petersburg International Economic Forum regarding a special investment contract with the Ministry of industry and trade and the Murmansk Region Government.

According to the Memorandum, the parties intend to sign a tripartite special investment contract on creating a center for the construction of large-scale offshore structures in Belokamenka, located in Murmansk region.

The Chairman of Novatek’s Management Board Leonid Mikhelson said: “To efficiently develop our vast resource base in the Far North, decrease construction cost and increase the competitiveness of our future LNG-project, it is very important to create a center to construct large-scale offshore structures in Russia. With the construction of the Kola Yard we plan to meet the challenge of maximizing the localization of production of LNG-plants based on the gravity-based structures, readymade for producing LNG.”

To remind, early in May, Novatek signed a framework agreement on strategic cooperation with TechnipFMC, Linde AG and Research and Design Institute for Gas Processing (NIPIGAS).

The parties agreed upon the main conditions for designing and developing future LNG plants based on gravity-based structures for Arctic LNG 2 as well as subsequent Novatek’s LNG projects.

Novatek’s also signed the license agreement with Linde AG to purchase Linde’s license on natural gas liquefaction technology for Arctic LNG 2 project.

Offshore Energy Today Staff

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