Saipem has reached an agreement with Technip France SA and NIPIgaspererabotka to participate in the Joint Venture for the realization 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 comprises the detailed design, procurement, fabrication, construction, commissioning and start-up of three liquefied natural gas (LNG) trains, each with a capacity of approximately 6.6 million tons per year (MTPA), which will be installed on Concrete Gravity Based Structures (GBS). Saipem is currently designing and building the GBS in the framework of the contract already announced with the press release of December 19, 2018.

The new LNG trains will be realized in the Tazovsky district located in the autonomous administrative region of Yamal - Nenets, in the western part of the Gydan peninsula (Russian Federation).

The Contract will be executed under Lump Sum and Reimbursable basis. Saipem has been assigned a share of the project worth approximately 2.2 billion Euro.

Stefano Cao, Saipem CEO, commented: “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”.

About Saipem

Saipem is a leading company in engineering, drilling and construction of major projects in the energy and infrastructure sectors. It is “One-Company” organized in five business divisions (Offshore E&C, Onshore E&C, Offshore Drilling, Onshore Drilling and XSIGHT, dedicated to conceptual design). Saipem is a global solution provider with distinctive skills and competences and high-tech assets, which it uses to identify solutions aimed at satisfying customer requirements. Listed on the Milan Stock Exchange, it is present in over 70 countries worldwide and has 32 thousand employees of 120 different nationalities.

About TechnipFMC

TechnipFMC is a global leader in subsea, onshore/offshore, and surface projects. With our proprietary technologies and production systems, integrated expertise, and comprehensive solutions, we are transforming our clients’ project economics.

We are uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, our offering unlocks new possibilities for our clients in developing their oil and gas resources.

About NOVATEK

PAO NOVATEK is the largest independent natural gas producer in Russia, and in 2017, entered the global gas market by successfully launching the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company’s upstream activities are concentrated mainly in the prolific Yamal-Nenets Autonomous Region, which is the world’s largest natural gas producing area and accounts for approximately 80% of Russia’s natural gas production and approximately 15% of the world’s gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation. The Company’s shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol “NVTK”.