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| Russia inks long-term deal to supply China with liquefied natural gas from Arctic | Russia inks long-term deal to supply China with liquefied natural gas from Arctic |
| (2 months later) | |
| Russia’s largest independent gas producer, Novatek, has signed a long-term contract with a Chinese partner as it aims to expand its presence in the fast-growing Asian-Pacific region. | Russia’s largest independent gas producer, Novatek, has signed a long-term contract with a Chinese partner as it aims to expand its presence in the fast-growing Asian-Pacific region. |
| The deal with Shenergy Group will see Novatek deliver over three million tons of liquefied natural gas (LNG) to terminals in China over 15 years, Novatek announced on Thursday. | The deal with Shenergy Group will see Novatek deliver over three million tons of liquefied natural gas (LNG) to terminals in China over 15 years, Novatek announced on Thursday. |
| “Our LNG commercial strategy is to diversify our client base and target end consumers in the fast-growing Asian Pacific region,” the head of Novatek, Leonid Mikhelson, said in a statement. “The Chinese market is one of the key regions in our LNG marketing strategy, and we plan to further increase our supplies of liquefied natural gas to this country.” | “Our LNG commercial strategy is to diversify our client base and target end consumers in the fast-growing Asian Pacific region,” the head of Novatek, Leonid Mikhelson, said in a statement. “The Chinese market is one of the key regions in our LNG marketing strategy, and we plan to further increase our supplies of liquefied natural gas to this country.” |
| Arctic LNG 2 is Novatek’s second large-scale LNG project in Russia’s Arctic. It includes the construction of three LNG liquefaction trains, which will have a total annual capacity of 19.8 million tons. The project has attracted several foreign investors, including Chinese companies CNOOC and CNPC, France’s Total and a consortium of Japan’s Mitsui and Jogmec, which each have a 10 percent share in the project. | Arctic LNG 2 is Novatek’s second large-scale LNG project in Russia’s Arctic. It includes the construction of three LNG liquefaction trains, which will have a total annual capacity of 19.8 million tons. The project has attracted several foreign investors, including Chinese companies CNOOC and CNPC, France’s Total and a consortium of Japan’s Mitsui and Jogmec, which each have a 10 percent share in the project. |
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