Russia's PAO Novatek and Japan's Saibu Gas Co.Ltd. signed a heads of agreement to create a joint venture that will focus on marketing LNG and natural gas to end customers, according to a Sept. 5 news release from the Russian firm.
The business will be developed for bunkering and gas-fired power generation in Japan and the Asia region.
The agreement also provides for the construction and operation of a new liquefied natural gas storage tank at the Hibiki LNG terminal in Fukuoka, Japan.
Novatek's natural gas production totaled 37.57 billion cubic meters in the first half.
