Taking account of Total’s approximate 19% stake in Novatek and Novatek’s intention to retain 60% of the project, the Group’s overall economic interest in this new LNG project will be approximately 21.5%.
Located on the Gydan Peninsula, facing the Yamal Peninsula, Arctic LNG 2 will offer opportunities to develop synergies between the two projects. With a production capacity of approximately 19.8 million tons per year (Mt/year), Arctic LNG 2 will unlock more than 7 billion boe of hydrocarbon resources.
Total in Russia
Total has been present in Russia since 1991. The Group’s equity production averaged 318,000 barrels of oil equivalent per day (boe/d) in 2017. This production comes from the Group’s 18.9% interest in Novatek, from the Group direct interest in Yamal LNG (20%) and from the Kharyaga (Total, 20%) and Termokarstovoye fields (Total, 49%).
About Total
Total is a global integrated energy producer and provider, a leading international oil and gas company, and a major player inlow-carbon energies. Our 98,000 employees are committed to better energy that is safer, cleaner, more efficient, more innovative and accessible to as many people as possible. As a responsible corporate citizen, we focus on ensuring that our operations in more than 130 countries worldwide consistently deliver economic, social and environmental benefits.
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