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Mitsui and JOGMEC acquire 10% in Arctic LNG-2

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04 July 2019

Mitsui and JOGMEC acquire 10% in Arctic LNG-2

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 6 images and tables including:

  • Executive summary: Table 1
  • Upstream assets: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2

What's included

This report contains:

  • Document

    Mitsui and JOGMEC acquire 10% in Arctic LNG-2

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