NOVATEK and Vitol Sign Agreement on LNG Supply from Arctic LNG 2
During the 19th International Conference & Exhibition on Liquefied Natural Gas (“LNG2019”) in Shanghai, Novatek Gas&Power Asia, a trading subsidiary of PAO NOVATEK (“NOVATEK” and/or the “Company”) and Vitol S.A. (“Vitol”) announced signing of Heads of Agreement (“Agreement”) for the supply of LNG.
The Agreement envisages concluding a 15-year contract with annual supply of one (1) million tons of LNG from the Arctic LNG 2 project as well as other NOVATEK’s projects. The LNG will be shipped on FOB basis to NOVATEK’s transshipment terminals in the Murmansk region and Kamchatka.
“We commenced contracting LNG volumes from our new project Arctic LNG 2,” noted NOVATEK’s First Deputy Chairman of the Management Board Lev Feodosyev. “LNG volumes sold at our transshipment terminals ensures the flexibility of LNG supplies around the world and allows us to create LNG hubs in the Asia-Pacific and Atlantic basins”.
