Friday, March 22, 2019

Novatek, Saibu Gas Ink MoU

January 2, 2019

Image: Novatek

Russia's largest independent natural gas producer Novatek (NVTK.ME) said it had agreed with Japan's Saibu Gas to study the possibility for the Russian company to enter the Japanese energy market.

Novatek said in a press release that PAO Novatek and Saibu Gas Co Ltd signed a  Memorandum of Understanding (MOU), whereby the parties agreed to consider potential cooperation to enter the end-customer market and optimize Novatek’s LNG portfolio supplies to the Asia-Pacific region by utilizing Hibiki LNG terminal in Japan.

Novatek's First Deputy Chairman of the Management Board Lev Feodosyev noted “The Asia-Pacific region is a priority destination for Novatek's LNG projects. Our ability to use the Hibiki terminal will help diversify our customer base and increase the flexibility of deliveries to the premium LNG markets.”

Meanwhile, 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.

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.

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