Yamal LNG Shipped First LNG Cargo to JapanSource: RNS
FOR IMMEDIATE RELEASE
Yamal LNG Shipped First LNG Cargo to Japan
Moscow, 26 June 2019. PAO NOVATEK ("NOVATEK" and/or the "Company") announced today that Yamal LNG shipped the first cargo of liquefied natural gas ("LNG") to Japan in accordance with the long-term offtake agreement with TOTAL. The cargo was unloaded at the Tobata LNG Terminal in accordance with the buyers lifting and delivery schedule.
"Commencing LNG shipments to the Japanese market represents an important milestone for the Company as Japan is an important LNG market and one of the priority destinations in our LNG marketing strategy," noted Leonid Mikhelson, NOVATEK's Chairman of the Management Board. "Further development of our logistical chain using the Northern Sea Route and a transshipment terminal in Kamchatka will expand LNG supplies to Japan as well as strengthen trade and economic links between our respective countries".
PAO NOVATEK is the largest independent natural gas producer in Russia, and in 2017, entered the global gas market by successfully launching the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company's upstream activities are concentrated mainly in the prolific Yamal-Nenets Autonomous Region, which is the world's largest natural gas producing area and accounts for approximately 80% of Russia's natural gas production and approximately 15% of the world's gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation. The Company's shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol «NVTK».
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