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, Update 20:25

Cooperation Agreement signed between NOVATEK, Kamchatka government and Rosprirodnadzor

Novatek plans to create a Russian LNG hub in Kamchatka for shipments to consumers in the Asia-Pacific region.

Cooperation Agreement signed between NOVATEK, Kamchatka government and Rosprirodnadzor

Moscow, January 28 - Neftegaz.RU. The largest independent natural gas producer in Russia NOVATEK, the Government of the Kamchatka Territory and Russia's environmental watchdog (Rosprirodnadzor) signed a Cooperation Agreement on the environmental monitoring of the water area adjacent to the Kamchatka Peninsula.

Leonid Mikhelson, NOVATEK’s Chairman of the Management Board said:
  • Environmental protection is one of the most important aspects of our sustainable development strategy and we consider the impacts of our projects on the environment long before the start of construction
  • We want to ensure that the nature surrounding the regions where our company’s facilities are located are well protected and the risk to the environment is mitigated through science-based solutions
  • Our cooperation will make a significant contribution to the preservation of the unique nature of Kamchatka
According to the agreement, the Parties intend to develop and implement a comprehensive scientific program to study the water area adjacent to the Kamchatka Peninsula in order to minimize any negative technogenic impact.

The agreement provides for creating an environmental monitoring system including observations and laboratory tests of environmental components.

NOVATEK is developing a transshipment terminal on Kamchatka to facilitate the distribution of Russian LNG to Asian markets.

The Kamchatka hub is expected to lower marine transportation costs and shorten delivery times to the rest of Asia.
Market participants have indicated that there are plans for a Kamchatka LNG hub and a pricing point for Russian LNG cargoes into Asia.

To read the full story in Russian.

Source : Neftegaz.RU

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