Thursday, July 07, 2016

Russia’s largest independent gas producer completes first LNG delivery

Novatek completed the company’s first delivery of liquefied natural gas (LNG), the Russian gas producer said on Thursday. Novatek had been supplying pipeline gas only before, the company said.

Novatek’s trading arm Novatek Gas & Power completed delivery to Chile’s Quintero. The LNG lot was shipped from the plant in Trinidad and Tobago.

"Delivery of the first lot is an important step for Novatek to enter the international LNG market. Following commissioning of Yamal LNG project’s first phase we will be on the LNG market with our own volumes. It is important for us to acquire experience of trading in the spot market," Commercial Director of Novatek Lev Feodosyev said.

Novatek is currently building the first corporate LNG plant in Arctic Russia.

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