NOVATEK Commenced LNG Sales of ISO Containers to China
Moscow, 1 December 2020. PAO NOVATEK (“NOVATEK” and/or the “Company”) announced today that Novatek Gas & Power Asia Pte. Ltd., a wholly owned subsidiary, and Saibu Gas Co., Ltd. of Japan have successfully completed their first joint trial delivery of liquefied natural gas (LNG) in ISO containers to China's Tiger Gas for subsequent sales of LNG in China. The LNG was delivered by sea in Tiger Gas-owned ISO containers from the Japanese Hibiki container terminal to Shanghai, China under a spot contract.
“Together with our partners, we have successfully completed our first trial delivery of LNG in ISO containers to China,” noted Lev Feodosyev, NOVATEK’s First Deputy Chairman of the Management Board. “It is forecasted that ISO containers of LNG will exponentially increase over the upcoming decades, allowing us to diversify our customer base by including small-scale LNG consumers and entering the downstream markets in China and Japan.”
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.