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NOVATEK delivers stable gas condensate to CNOOC via Northern Sea Route
06 September 2010
Moscow, 6 September 2010. OAO NOVATEK (“NOVATEK” and/or the “Company) has announced today the successful delivery of a consignment of its stable gas condensate to China National Offshore Oil Company (CNOOC) via the Arctic Ocean’s Northern Sea Route.
The cargo of stable gas condensate, produced at NOVATEK’s Purovsky Gas Condensate Stabilization Plant, traveled from Russia’s Murmansk Port to China’s Ningbo Port in 22 days, approximately half the time required by the traditional shipping route through the Suez Canal.
The success of the first high-tonnage shipment, combined with the significantly reduced delivery time, demonstrates the possibility for future trade with China and other countries of the Asian-Pacific region using the Northern Sea Route as well as providing additional logistical options for developing hydrocarbon fields on the Yamal peninsula and arctic shelf.
An Aframax class tanker from Russian shipbuilder and operator, OAO Sovcomflot, was used to transport the stable gas condensate via the Northern Sea Route with icebreaking support provided by the Russian Federation’s, Atomflot.
PAO NOVATEK is one of the largest independent natural gas producers in Russia, and in 2017, entered the global gas market by successfully launching the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company’s upstream activities are concentrated mainly in the prolific Yamal-Nenets Autonomous Region, which is the world’s largest natural gas producing area and accounts for approximately 80% of Russia’s natural gas production and approximately 15% of the world’s gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation. The Company’s shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol “NVTK”.
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