Press Releases and Events
Yamal LNG Shipped First LNG Cargo to Bangladesh
Moscow, 29 November 2019. PAO NOVATEK (“NOVATEK” and/or the “Company”) announced today that OAO Yamal LNG shipped the first cargo of liquefied natural gas (“LNG”) to Bangladesh in accordance with the long-term offtake agreement with TOTAL. The consignment was delivered along the westbound route via the Suez Canal with transshipment from the ice class Arc7 LNG tanker “Eduard Toll” to a conventional type LNG tanker at the Belgian terminal located at Zeebrugge. The LNG cargo was unloaded at the Summit LNG Terminal in Bangladesh in accordance with the buyers lifting and delivery schedule.
“LNG demand is constantly growing all over the world with new consumer countries appearing. Bangladesh started importing LNG just a year ago with the launch of the country’s first LNG terminal, and it has rapidly increased natural gas consumption as well as regasification capacities,” noted Lev Feodosyev, NOVATEK’s First Deputy Chairman of the Management Board. “The low cost of our LNG and an efficient logistical model allow us to deliver LNG and successfully develop new markets around the world.”
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.