NOVATEK Shipped First LNG Cargo to UAESource: RNS
FOR IMMEDIATE RELEASE
NOVATEK Shipped First LNG Cargo to United Arab Emirates
Moscow, 28 August 2020. PAO NOVATEK ("NOVATEK" and/or the "Company") announced today that NOVATEK Gas & Power Asia Pte. Ltd., a wholly owned subsidiary, shipped the first cargo of liquefied natural gas ("LNG") from the Yamal LNG project to the United Arab Emirates under a spot contract. The LNG cargo was transshipped in Europe onto the conventional LNG tanker "Yamal Spirit" and delivered to the Jebel Ali LNG Terminal in accordance with the contract's delivery schedule.
"With our first shipment to the United Arab Emirates, we are expanding the geography of our LNG supplies," noted Lev Feodosyev, NOVATEK's First Deputy Chairman of the Management Board. "The high-quality resource base in the Russian Arctic region, state-of-the-art technologies implemented by NOVATEK's LNG projects and our proven logistics solutions ensure cost-competitive supplies to almost any global LNG markets."
PAO NOVATEK is the largest independent natural gas producer in Russia, and in 2017, entered the global LNG 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. Upstream activities of the Company's subsidiaries and joint ventures 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».