Total to buy 10 pc stake in Arctic LNG 2 project from Novatek


Total SA has signed an agreement with Novatek to acquire a direct working interest of 10 percent in Arctic LNG 2, a giant liquefied natural gas project lead by Novatek. The project is located on the Gydan Peninsula in the north of Siberia. Taking account of Total’s approximate 19 percent stake in Novatek and Novatek’s intention to retain 60 percent of the project, the group’s overall economic interest in this new LNG project will be approximately 21.5 percent. If Novatek decides to reduce its participation below 60 percent, Total will have the possibility to increase its direct share up to 15 percent. Read more

 

Reliance Industries (RIL) has received environment clearance for the expansion and optimization of its petrochemical complex at Nagothane, Maharashtra at an estimated cost of Rs 2,338 crore. “The environment clearance has been given to the RIL’s expansion and debottlenecking of petrochemical project at Nagothane,” a senior Environment Ministry official said. The approval, given based on the recommendations of an expert panel, is subject to compliance of certain conditions, the official said. The proposal is to expand the gas cracker and downstream plants located at Nagothane village in Raigad district by way of debottlenecking, expansion. Read more

 

Invista said that it is entering the final design phase for a $250 million project at its Victoria site. To upgrade its manufacturing technology and increase production of adiponitrile (ADN), a key ingredient for nylon 6,6 fibers and plastics. Construction for the project is slated to get underway in the first quarter of 2019. The new technology, developed and in use at the Invista facility in Orange, Texas, brings improved product yields, reduced energy consumption, lower greenhouse gas emissions, enhanced process stability and reduced capital intensity, compared to existing technologies. Read more

 

Shell Offshore Inc (Shell) announced a large, deep-water, exploration discovery in the Norphlet geologic play in the US Gulf of Mexico with its Dover well (100 percent Shell). The Dover discovery is Shell’s sixth in the Norphlet and encountered more than 800 net feet of pay (244 meters). The discovery is located approximately 13 miles from the Appomattox host and is considered an attractive potential tieback. Shell’s Appomattox host has now arrived on location in the US Gulf of Mexico and is expected to start production before the end of 2019. The well was drilled in Mississippi Canyon Block 612, located approximately 170 miles (273 kilometres) offshore southeast of New Orleans. Read more

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