Novatek already has a Yamal LNG plant running at annual capacity of 16.5 million tonnes of super-cooled gas. It plans to start another project, Arctic LNG 2, in 2023.

Russia exported 248 billion cubic meters (bcm) in 2018, mostly via pipeline to Europe. In the next decade, its liquefied natural gas (LNG) exports will almost triple to 68 bcm as the Yamal LNG project reaches full capacity and Arctic 2 LNG comes online (plus two smaller projects).

Arctic LNG-2 is expected to launch in 2023 and will aim to export 80 percent of its LNG to Asia, Novatek Chief Executive Leonid Mikhelson, Russia’s richest businessman according to Forbes magazine, said after the project’s partners signed a final investment decision (FID) at an economic forum.

Russia's Novatek signed two memoranda of understanding with Indian companies H-Energy Global and Petronet LNG Wednesday on cooperation on LNG supplies and production, on the sidelines of the Eastern Economic Forum in Vladivostok.

The MOU envisages cooperation in LNG supplies to India on a long-term basis, joint investment in future LNG terminals of H-Energy and LNG projects of NOVATEK, as well as establishing a joint venture to market LNG and natural gas from NOVATEK’s portfolio to end-customers in India, Bangladesh and other markets.

Russia’s Novatek is interested in supplying liquefied natural gas (LNG) from its Arctic LNG-2 project to Indian companies, Russian Deputy Energy Minister Anton Inyutsyn was quoted as saying by the ministry’s website on Monday.

Profit attributable to shareholders of PAO NOVATEK increased to RR 69.2 billion (RR 22.97 per share), or by 115.9%, in the second quarter of 2019 and to RR 451.0 billion (RR 149.73 per share), or six-fold, in the first half of 2019 as compared to the corresponding periods in 2018.

NOVATEK announced the closing of the sale of participation interests in Arctic LNG 2 Project

in the presence of the President of Russian Federation Vladimir Putin, and the Prime Minister of Japan Shinzo Abe, PAO NOVATEK and the consortium of Mitsui & Co and Japan Oil, Gas and Metals National Corporation JOGMEC signed the Sales and Purchase Agreement to purchase a 10% participation interest in the Arctic LNG 2 project.

PAO NOVATEK (“NOVATEK” and/or the “Company”) announced that it has signed the Share Purchase Agreement (“Agreement”) with wholly owned subsidiary of China National Petroleum Corporation (“CNPC”) in relation to the sale of a 10% participation interest in the Arctic LNG 2 project.