Yamal LNG increased shipments to Asian Pacific markets via NSR
PAO NOVATEK announces that 15 LNG cargos from the Company’s Yamal LNG project were shipped eastbound to the Asian Pacific markets directly via the Northern Sea Route during third quarter 2019. The eastbound shipments represented about 25% of all LNG dispatched from Yamal LNG during the quarter. Planned 2019 volumes of LNG delivered eastbound to the Asian Pacific markets via the NSR will be increased by more than 4 times compared to last year.
A current fleet of 13 Arc7 ice-class tankers along with lower ice-class designated tankers to transport LNG cargos support the Yamal LNG project. The full compliment of 15 Arc7 ice-class tankers are expected to be in operation by end of 2019, which will increase the number of direct LNG deliveries eastbound via the NSR.
“The increase of LNG delivered eastbound via the NSR confirms the commercial priority of the Asia-Pacific region as a strategic direction for future deliveries of NOVATEK’s LNG,” noted Lev Feodosyev, NOVATEK’s First Deputy Chairman of the Management Board. “Developing further the navigational efficiency via the NSR combined with the construction of LNG transshipment complexes in Kamchatka and Murmansk will optimize the Company's logistics chain.”
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. The Company’s upstream activities 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”.