NOVATEK, ENN ink sales and purchase agreement on long-term LNG supply
PAO NOVATEK revealed that its wholly-owned subsidiary, NOVATEK Gas & Power, and ENN LNG signed a long-term LNG sale and purchase agreement (SPA) for the LNG produced from the Arctic LNG 2 project.
The SPA stipulates the supply of approximately 0.6 MMtpy of LNG from the Arctic LNG 2 project for a term of 11 years. The LNG will be delivered on a DES basis to ENN’s Zhoushan LNG Receiving Terminal in China.
“We have reached another milestone in successful marketing of NOVATEK’s share of LNG to be produced by our Arctic LNG 2 project,” said Leonid Mikhelson, NOVATEK’s Chairman of the Management Board. “This is another LNG SPA for delivery to the Chinese market, which is in line with our LNG strategy to expand sales to the Asia-Pacific region with its growing demand for clean-burning natural gas.”
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