2019-04-03 10:45:00
NOVATEK, VITOL AGREEMENT
NOVATEK - During the 19th International Conference & Exhibition on Liquefied Natural Gas ("LNG2019") in Shanghai, Novatek Gas&Power Asia, a trading subsidiary of PAO NOVATEK ("NOVATEK" and/or the "Company") and Vitol S.A. ("Vitol") announced signing of Heads of Agreement ("Agreement") for the supply of LNG.
The 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 shipped on FOB basis to NOVATEK's transshipment terminals in the Murmansk region and Kamchatka.
"We commenced contracting LNG volumes from our new project Arctic LNG 2," noted NOVATEK's First Deputy Chairman of the Management Board Lev Feodosyev. "LNG volumes sold at our transshipment terminals ensures the flexibility of LNG supplies around the world and allows us to create LNG hubs in the Asia-Pacific and Atlantic basins".
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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.
