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
- Gasum powers Equinor's platform supply vessel with bio-LNG
- Oman plans third LNG train, boosting domestic production to more than 15 MMtpy
- ADNOC deploys pioneering AI-enabled process optimization technology
- Mexico Pacific announces long-term LNG SPA with POSCO International
- ONEOK to acquire Medallion and controlling interest in EnLink for $5.9 B
- ONEOK to acquire Medallion and controlling interest in EnLink for $5.9 B
- Picarro launches handheld solution for natural gas leak investigation and closed-loop leak management
- Fincantieri LNG-powered Star Princess launched in Monfalcone
- Oman plans third LNG train, boosting domestic production to more than 15 MMtpy
- Brazil's fossil push undermines Lula's green ambitions
Comments