Regional LNG: Novatek signs long-term LNG contract with Shell

By Romel S. Gurky

Novatek Gas & Power, a wholly owned trading subsidiary of Russia?s second largest gas producer Novatek, has signed a long-term contract with Shell International Trading Middle East for the supply of LNG from the Yamal LNG project.

Novatek said in a statement Thursday that the contract stipulates annual supply of approximately 0.9 million tons of LNG for more than 20 years from the volumes that Novatek Gas & Power will purchase from Yamal LNG according to the previously signed contract.

Chairman of the Management Board of Novatek, Leonid Mikhelson stated: ?We are currently finalizing Novatek?s contract portfolio for the supply of LNG from the Yamal LNG project. Considering the extensive expertise of Shell, we are planning to further develop our cooperation in the LNG sector.?

Editing by Reiner Simanjuntak