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Novatek inks deal to build LNG transshipment complexes

PAO NOVATEK signed a cooperation agreement with Mitsui O.S.K. Lines Ltd. and the Japan Bank for International Cooperation to build marine LNG transshipment complexes in Kamchatka and Murmansk, which will help aid LNG delivery from the Yamal and Gydan projects in Russia.

Novatek's chairman of the management board, Leonid Mikhelson, said the parties expect to reach final arrangements for the projects by year-end, according to a Sept. 26 news release from Novatek.

Arctic LNG 2 partner TOTAL SA earlier said the project's production from the Gydan Peninsula will be delivered to Asia through the transshipment terminal in Kamchatka, Russia, while cargoes bound for Europe would use the transshipment terminal near Murmansk, Russia.

Japan is the biggest global LNG consumer, Mikhelson said.

Mitsui & Co. Ltd. is also a partner in Arctic LNG 2 through its stake in joint venture Japan Arctic LNG.