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Novatek signed Kamchatka LNG facility deal

Novatek signed an agreement with Kamchatka to build a LNG terminal in the far east of Russia.

Novatek signed Kamchatka LNG facility deal

Novatek reported on October 23, 2017, that it had signed an agreement with the regional government of Kamchatka to build a LNG terminal in the Far East of Russia.

Novatek wants to build the port on the east coast of Kamchatka to offload and split cargoes carried through the Northern Sea Route on board 15 icebreaking LNG carriers that Mitsui, Sovcomflot, Teekay LNG and Dynagas have ordered for charter to Yamal LNG. Yamal LNG will ship its 1st 2 cargoes next month.

Novatek has signed a preliminary agreement with Kamchatka Territorial Government to build the terminal.

The deal covers transport infrastructure, trading and economic development, research and technology – and the promise of new jobs.

It will also secure gas for local use, tapping the reloading terminal’s boil-off gas to generate power and support Kamchatka utilities.

«The construction of a sea terminal… for reloading operations will optimise the logistics of LNG supplies from the Arctic region, stimulate usage of the Northern Sea Route and create a new LNG-supply hub for Asian-Pacific regional consumers», CEO of Novatek Leonid Mikhelson said.

Yamal LNG backer Novatek wants to develop a second LNG-export venture in the Russian Arctic.

Industry sources have told LNG World Shipping that Novatek wants to scale up Arctic LNG 2 to export as much as 18 million tonnes a year (mta) of LNG.

Total and Novatek will export 16.5 mta from Yamal LNG, starting full production next year.

To read an article in Russian.

Source : Neftegaz.RU

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