Russia's Novatek signed an agreement to sell a 10% participating interest in its wholly-owned subsidiary, Arctic Transshipment company, to Total on Wednesday.
Novatek said that Arctic Transshipment will eventual operate two LNG transshipment complexes currently under construction in the Kamchatka and Murmansk regions.
The transshipment complexes are part of Novatek's logistical chain to optimize the use of the Arc7 ice-class tanker fleet, with the aim of ensuring efficient and cost-effective LNG transportation from the Arctic LNG 2 and other Novatek projects.
Each transshipment complex comprises a floating LNG storage unit with a capacity of 360,000 cubic meters with two ship-to-ship transshipment points.
LNG cargos will be transferred from the Arc7 ice-class LNG tankers to conventional tankers at each location.
By Murat Temizer