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NOVATEK, MOL and JBIC sign cooperation agreement

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LNG Industry,

PAO NOVATEK has announced that it has signed a cooperation agreement with Mitsui O.S.K. Lines, Ltd. (MOL) and Japan Bank for International Cooperation (JBIC), confirming the parties’ intentions to implement projects for the construction of a marine LNG transshipment facilities in the Kamchatka and Murmansk region, including the possible acquisition of participation interest in projects and potential financing of projects.

Leonid Mikhelson, NOVATEK’s Chairman of the Management Board, said: “We have already started successful cooperation with Japanese companies in large LNG projects, including Yamal LNG and Arctic LNG 2, and, accordingly, we see great potential in expanding further this mutually beneficial cooperation.

“The construction of the Kamchatka and Murmansk transshipment complexes will help to optimise logistics and maximise the efficiency of LNG deliveries from Yamal and Gydan to LNG key markets of the Asia-Pacific region, including Japan, the largest global LNG consumer. We think we will reach final arrangements for these projects by year end.”

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