MOSCOW, RUSSIA: PAO NOVATEK announced today that the first of three stages of international certification for long-term CO2 underground storage sites in the Yamal and Gydan Peninsulas has been successfully completed and that site feasibility certificates have been issued for further study of the sites and subsequent certification stages. Det Norske Veritas (DNV), an independent certification and classification…
Tag: Novatek
NOVATEK and Fortum agree on renewable power supply
MOSCOW: NOVATEK’s joint venture Cryogas-Vysotsk signed a power purchase agreement for renewable electricity produced by the European energy company Fortum in Russia. The Agreement builds on the cooperation of NOVATEK and Fortum under the Memorandum of Understanding that the Parties signed at the Saint-Petersburg International Economic Forum in June 2021. According to the Agreement, the…
NOVATEK and Zhejiang Energy sign LNG supply agreement
MOSCOW: NOVATEK Gas & Power Asia and Zhejiang Energy Gas Group, a subsidiary of the Zhejiang Provincial Energy Group, signed a long-term LNG sale and purchase agreement (“SPA”) for the LNG produced from the Arctic LNG 2 project. The SPA follows on from the Heads of Agreement signed by parties on 2 June 2021 during…
NOVATEK signs agreement with Shenergy to deliver LNG at terminals in China
MOSCOW: PAO NOVATEK’s wholly owned subsidiary NOVATEK Gas & Power Asia Pte. Ltd. and Shenergy Group signed a long-term LNG Sales and Purchase Agreement (SPA) for the LNG produced from the Arctic LNG 2 project. The SPA stipulates the cumulative supply of more than 3.0 million tons of LNG for a term of 15 years…
NOVATEK joins the Arctic Economic Council
MOSCOW: PAO NOVATEK has formally joined the Arctic Economic Council, a news release said. The Arctic Economic Council (AEC) is an international business forum established in 2014 at the initiative of the Arctic Council in order to facilitate business-to-business activities and promote responsible economic development of the Arctic region. The AEC’s active organizations include a…
NOVATEK Commenced LNG sales of ISO containers to China
MOSCOW: PAO NOVATEK announced today that Novatek Gas & Power Asia Pte. Ltd., a wholly owned subsidiary, and Saibu Gas Co., Ltd. of Japan have successfully completed their first joint trial delivery of liquefied natural gas (LNG) in ISO containers to China’s Tiger Gas for subsequent sales of LNG in China. The LNG was delivered…
Novatek and HMS Group sign memorandum on localizing fabrication of LNG equipment
MOSCOW: PAO NOVATEK and HMS Group signed a Memorandum on Strategic Partnership and Localizing the Fabrication of Critical Equipment for LNG Production. The Memorandum notes the results already achieved on developing medium-tonnage compressor equipment. According to the Memorandum, the Parties intend to pursue long-term cooperation to localize the fabrication of compressors, pumps, and other equipment…
Novatek and Saibu Gas sign heads of agreement
VLADIVOSTOK: Today, in the presence of the Minister of Economic Development of the Russian Federation Maxim Oreshkin and the Minister of Economy, Trade and Industry of Japan Hiroshige Seko, Pao Novatek and Saibu Gas Co., Ltd. (Japan), signed the Heads of Agreement. According to the agreement, the parties intend to establish a joint venture focused…
NOVATEK signs MOU with H-Energy
VLADIVOSTOK: PAO NOVATEK and H-Energy Global Ltd, India, signed a Memorandum of Understanding (MOU) envisaging cooperation in LNG supplies to India on a long-term basis, joint investment in future LNG terminals of H-Energy and LNG projects of NOVATEK, as well as establishing a joint venture to market LNG and natural gas from NOVATEK’s portfolio to…
NOVATEK creates shipping joint venture with Sovcomflot
VLADIVOSTOK: Today, during the Eastern Economic Forum in Vladivostok, PAO NOVATEK and PAO Sovcomflot, signed the Heads of Agreement on creating a joint venture, a release issued to London Stock Exchange said. According to the agreement, the parties intend to create a shipping company, with the potential involvement of other joint venture participants. The joint…
NOVATEK launches South-Khadyryakhinskoye field
MOSCOW: PAO NOVATEK announced that the Company’s wholly owned subsidiary NOVATEK-Tarkosaleneftegas commenced commercial production at the South-Khadyryakhinskoye gas field, with estimated gas capacity at about one billion cubic meters per annum. “The South-Khadyryakhinskoye field is located in close proximity to the Company’s existing infrastructure, which allowed us to quickly commence initial gas production and optimize…