Press Releases and Events
NOVATEK ships stable gas condensate via the Northern Sea Route
Moscow, 17 August 2010. OAO NOVATEK (“NOVATEK” and/or the “Company) has announced that on 14 August 2010, the Company dispatched a consignment of its stable gas condensate from the Murmansk Port which will travel to the Asian-Pacific region via the Northern Sea Route. The consignment is being shipped using OAO Sovcomflot’s high-tonnage (deadweight greater than 100 thousand tons) tanker, Baltika, with icebreaking support provided by the Russian Federation’s, Atomflot. The shipment of stable gas condensate through the Arctic Ocean’s Northern Sea Route is the first of its kind for a high-tonnage tanker.
Transportation of goods via the Northern Sea Route requires less time than traditional routes due to the shorter distances between the North-Western ports of the Russian Federation and the countries of the Asian-Pacific region. The success of NOVATEK’s shipment is strategically important and will have a beneficial impact on the Northern regions of the Russian Federation by facilitating the development of new hydrocarbon fields located in the Yamal peninsula and arctic shelf.
PAO NOVATEK is one of the largest independent natural gas producers 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 Area, 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.