Deal Insight
Total acquires 10% in Arctic LNG-2 from NOVATEK
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
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
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
-
Upsides and risks
- Upsides
- Risks
-
Strategic rationale
- Total
- NOVATEK
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
- 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:
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