Cryogas-Vysotsk reaches LNG milestone of one million tons
PAO NOVATEK announced that Cryogas-Vysotsk, a joint venture with Gazprombank, has produced its one millionth ton of liquefied natural gas (LNG) since the project commenced operations in 2019.
During this period, Cryogas-Vysotsk has dispatched more than 200 LNG carriers and 1,200 trucks to a diverse geography including Finland, Sweden, Lithuania, the Netherlands, Estonia, Poland and Spain. The project supplied more than 80 trucks to the Russian domestic market as part of NOVATEK’s commercial activities to provide clean-burning LNG for the consumers in the Murmansk region and the Company’s network of LNG fueling stations.
NOVATEK’s Chairman of the Management Board Leonid Mikhelson noted: “Cryogas-Vysotsk has a broad and diverse geography of customers as this important project serves the entire Baltic region clean-burning natural gas needs amid tightening environmental requirements for marine and automotive fuels”.
Cyrogas-Vysotsk is a medium-tonnage LNG project located in the port of Vysotsk, Leningrad Region of Russia on the Baltic Sea. The project’s design capacity is 660 thousand tons of LNG per annum, and its infrastructure includes a 42 thousand cubic meters LNG storage tank and an offloading berth designed to handle LNG carriers with a capacity of up to 30 thousand cubic meters. NOVATEK acquired a 51% participation interest in Cryogas-Vysotsk project in July 2017.
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”.
