Tuesday, November 20, 2018

Russia's Novatek Signs LNG Agreement with Japan's JOGMEC

Posted by September 10, 2018

Russia's Novatek (NVTK.ME) said on Monday it had signed a framework agreement with Japan Oil, Gas and Metals National Corp (JOGMEC) to cooperate on Novatek's liquefied natural gas (LNG) projects in the north of Russia.

"The parties agreed to explore opportunities to cooperate on Novatek's projects in the Yamal and Gydan peninsulas, including the Arctic LNG 2 project, on developing a regular transport link via the Northern Sea Route for LNG deliveries to the Japanese and Asia-Pacific markets," the statement said.

Novatek controls the Yamal LNG project, in which France's Total along with China's CNPC and the Silk Road Fund are minority shareholders.

Russian and Japanese companies signed a portfolio of agreements on the sidelines of a forum in Russia's far eastern city of Vladivostok on Monday.

Reporting by Denis Pinchuk and Vladimir Soldatkin; writing by Polina Devitt

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