Saipem SpA entered into a joint venture agreement with TechnipFMC PLC subsidiary Technip France SA and Russian company NIPIgaspererabotka for the development of the Arctic LNG 2 project, according to an Aug. 2 news release from the Italian driller.

The contract involves the detailed design, procurement, fabrication, construction, commissioning and startup of three liquefied natural gas trains, each with a capacity of around 6.6 million tons per year, which will be installed on concrete gravity-based structures.

It will be executed under a lump sum and reimbursable basis, with Saipem assigned a share of the project worth approximately €2.2 billion.