Deal Insight

Total acquires 10% in Arctic LNG-2 from NOVATEK

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30 May 2018

Total acquires 10% in Arctic LNG-2 from NOVATEK

Report summary

Total is casting a vote of confidence in NOVATEK's new frontier Arctic LNG-2 development by acquiring 10% in the project and securing a place in NOVATEK's future LNG projects. This is in line with Total's strategy of increasing the proportion of gas in its portfolio to 60% of total production by 2035. The Arctic LNG-2 project is at an early stage of its development, with Front-End Engineering Design (FEED) ongoing and FID targeted for 2019. A number of unknowns still need to be addressed, including the feasibility of its unique development concept, level of local content and the ability of Russian suppliers to deliver. The completion of FEED by the end of 2018 is expected to bring some clarity on these issues.

Table of contents

Tables and charts

This report includes 7 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
  • Strategic rationale: Image 1

What's included

This report contains:

  • Document

    Total acquires 10% in Arctic LNG-2 from NOVATEK

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