The LNG will be shipped along Russia’s hazardous northern coast
Novatek signs Arctic LNG China deals
Russian gas supplier to send more cargoes to China, but this time to an independent importer and a provincial state-owned group
Russian gas firm Novatek has signed two deals with Chinese importers for volumes from its Arctic LNG 2 project. The first, an SPA with Chinese independent ENN, is for 0.6mn t/yr and will run for 11 years, although neither party has specified a start date. The second agreement will see Novatek ship 1mn t/yr to state-owned Zhejiang Provincial Energy Group for 15 years. ENN has led the way among Chinese independents in the LNG market, bypassing the state-owned entities that account for the bulk of China’s sizeable imports. The company signed a 13-year, 900,000t/yr deal with the US’s Cheniere last October. Novatek is building a storage and transshipment hub in Kamchatka in Russia’s Pacific Far
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