2019-04-03 10:50:00
NOVATEK, REPSOL AGREEMENT
NOVATEK- 2 April 2019, Novatek Gas&Power Asia, a trading subsidiary of PAO NOVATEK ("NOVATEK" and/or the "Company") announced at the International Conference & Exhibition on Liquefied Natural Gas in Shanghai, that it has signed a non-binding Heads of Agreement for the supply of LNG with Repsol.
The Heads of Agreement envisages concluding a 15-year contract with annual supply of one (1) million tons of LNG from the Arctic LNG 2 project as well as other NOVATEK's projects. The LNG will be delivered ex-ship primarily to markets on the Iberian Peninsula.
"The agreement for the sale of LNG would allow us to increase our market presence on the Iberian Peninsula where Russian pipeline gas is not supplied," noted NOVATEK's First Deputy Chairman of the Management Board Lev Feodosyev. "Expanding our supply geography and diversifying our long-term contract customer base is consistent with the Company's strategy to ramp up LNG production in the Russian Arctic."
Note:
The Arctic LNG 2 project envisages constructing three LNG trains at 6.6 million tons per annum each, using gravity-based structure (GBS) platforms. The Project is based on the hydrocarbon resources of the Utrenneye field. As of 31 December 2018, the Utrenneye field's 2P reserves under PRMS totaled 1,138 billion cubic meters of natural gas and 57 million tons of liquids. Under the Russian classification reserves totaled 1,978 billion cubic meters of natural gas and 105 million tons of liquids. OOO Arctic LNG 2 owns an LNG export license.
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Earlier:
2019, April, 1, 11:27:00
RUSSIA'S LNG WILL UP
TASS - The share of liquefied natural gas (LNG) on the global gas market may double to reach 70% by 2040, Russia’s Energy Minister Alexander Novak said at the Krasnoyarsk Economic Forum on Friday.
2019, April, 1, 10:55:00
RUSSIA'S LNG ELECTRICITY
Novatek PJSC is looking at power generation to unlock demand for liquefied natural gas from its massive projects in Russia’s Arctic.
2019, March, 22, 10:30:00
COMPETITIVE RUSSIAN LNG
Russian LNG is well positioned to compete with North American projects to reach new markets in Asia and the Atlantic Basin despite the challenges, a Shell executive said Wednesday at the LNG Congress in Moscow.
