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NOVATEK Shipped First LNG Cargo to Japan via Northern Sea Route
24 July 2020
Moscow, 24 July 2020. PAO NOVATEK (“NOVATEK” and/or the “Company”) announced today that NOVATEK Gas & Power Asia Pte. Ltd., a wholly owned subsidiary, shipped the first cargo of liquefied natural gas (“LNG”) from the Yamal LNG project to Japan transported eastbound via the Northern Sea Route.
The LNG cargo was delivered by the LNG tanker “Vladimir Rusanov” under a spot contract and unloaded at the Ohgishima LNG Terminal in Japan in accordance with the contract’s delivery schedule. This LNG cargo is the Company’s first successful experience of entering and unloading an Arc 7 ice-class LNG tanker in a Japanese port, which allows the Company to increase the volume of LNG supplies to this country.
“We focus a significant amount of attention to develop and enhance the logistical scheme for our LNG projects,” noted Lev Feodosyev, NOVATEK’s First Deputy Chairman of the Management Board. “The future launch of a transshipment terminal in Kamchatka will significantly expand our opportunities to cost competitively deliver and supply LNG to the entire Asia-Pacific region.”
PAO NOVATEK is the largest independent natural gas producer in Russia, and in 2017, entered the global LNG 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. Upstream activities of the Company’s subsidiaries and joint ventures 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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