Russia’s second largest natural gas producer, PAO Novatek, has signed two long-term liquefied natural gas (LNG) supply contracts from its Arctic LNG 2 project with two Chinese distributors. A subsidiary of China’s largest independent gas distributor, ENN Natural Gas Co. Ltd., agreed to purchase 0.6 million metric tons/year (mmty) for 11 years from Novatek. Volumes…
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Russia’s Arctic LNG 2 Secures Financing, Clearing Path to Completion
PAO Novatek said this week that the 19.8 million metric tons/year (mmty) Arctic LNG 2 project in Russia’s Far North signed loan agreements with a consortium of international banks, securing all the facility’s external funding. The banks agreed to provide $10.8 billion for up to 15 years for the $21 billion project that is to…
December 1, 2021
Novatek Secures Buyers for All Arctic LNG 2 Volumes
PAO Novatek, Russia’s largest independent natural gas producer, has contracted all of the supply from its proposed Arctic LNG 2 export project under development north of Siberia on the Gydan Peninsula. The company said it has signed 20-year sales and purchase agreements (SPA) with the project’s participants for its 19.8 million metric tons/year capacity. Arctic…
April 30, 2021
Russia’s Novatek, Partners Sanction $21B Arctic LNG-2
Russia’s largest private natural gas producer Novatek and its partners on Thursday sanctioned the 19.8 million metric tons/year Arctic LNG-2 export facility, which would be sited north of Siberia.
September 5, 2019
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