Deal Insight
Mitsui and JOGMEC acquire 10% in Arctic LNG-2
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Report summary
Japanese trader Mitsui and state-owned Japan Oil, Gas and Metals National Corp. have agreed to acquire a 10% stake in Arctic LNG-2 through a joint venture. NOVATEK's proposed LNG plant in West Siberia consists of three 6.6 mmtpa trains. NOVATEK is targeting FID in Q3 2019 with start-up of the first train in Q1 2023. The deal marks NOVATEK's third sell-down of interest in Arctic LNG-2. Earlier this year, Total (10%) finalised its entry in the project, and CNPC (10%) and CNOOC Ltd (10%) announced their entry. The deals are important milestones on the way to a 2019 FID and improve the project's commercial prospects.
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
- Upsides and risks
- Strategic rationale
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
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Executive summary: Table 1Upstream assets: Table 1Deal analysis: Table 1
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Deal analysis: Table 2Oil & gas pricing and assumptions: Table 1Oil & gas pricing and assumptions: Table 2
What's included
This report contains:
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