Novatek to sell 50 pct of its Arctic-LNG offtake on spot market
2/28/2019
LONDON, (Reuters) - Independent Russian gas producer Novatek will sell on the spot market half of the production it is entitled to from the Arctic LNG-2 project, its chief executive said.
Plans are for Arctic LNG-2, operated by Novatek, to start operations in 2022-2023 with full production capacity at 19.8 million tonnes a year. Novatek has a 60 percent stake in the project although it may reduce that slightly.
Large liquefaction projects tend to have long-term sales commitments for a large majority of production before building commences. But increasing volumes of liquefied natural gas (LNG) is being sold on the spot market now.
(Reporting by Sabina Zawadzki; Editing by Kirsten Donovan)
Sign up to Receive Our Newsletter
- Biogas in France: TotalEnergies starts its 2nd largest unit in Normandy
- Ukraine plans to import 800 MMm3 of gas until April after Russian strikes
- Parker Hannifin joins iHAPC project to test H2 and argon for cleaner and more energy-efficient engine technologies
- India's BPCL signs LPG supply deal with Norway's Equinor
- Digital Exclusive: The future of gas turbines in the green revolution
Comments