Saipem joins JV to develop Arctic LNG2 project

Saipem has announced that it has signed an agreement with Technip France SA and NIPIgaspererabotka to take part in the joint venture for the realisation of the Arctic LNG2 project.

The project has been awarded by Arctic LNG2, a company formed by Novatek JSPC (60%) and Ekropromstroy Ltd (40%). It consists of the detailed design, procurement, fabrication, construction, commissioning and startup of three 6.6 million tpy LNG trains, which will be installed on concrete gravity-based structures (GBS). Saipem claims that it is currently designing and building the GBS in the framework of the contract that was announced in December last year.

According to the statement, the new LNG trains will be implemented in the Tazovsky district located in the autonomous administrative region of Yamal – Nenets, in the western part of the Gydan peninsula, Russia.

Saipem claims that the contract will be carried out under a lump sum and reimbursable basis. The company has been assigned a share of the project worth approximately €2.2 billion.

Stefano Cao, Saipem CEO, said: “Involvement in the works for the construction of the three trains for the Arctic LNG2 project, following the awards of the contracts for the gravity-based structures with the same client and the LNG Mozambique Project with Anadarko, reaffirms Saipem’s strategic choice to consolidate its leadership across the entire natural gas value chain.”