DJ Total Enters Russian Arctic LNG 2 Project
On May 24, it was reported that the France's Total has signed a agreement with Novatek to buy a 10% stake in Russian Arctic LNG 2 Project.
This move has doubled down on its controversial efforts to ship supercooled natural gas from the country's Arctic peninsula. At the same time establishing its position in this area, and is expected to an daily production of 535,000 barrels of oil.
Together with its 19% stake in PAO Novatek, DJ total owns more than 20% in Arctic LNG 2 project.