Novatek, ENGIE pen LNG supply deal

Novatek, ENGIE pen LNG supply deal

Novatek said that its unit, Novatek Gas & Power, concluded a long-term contract with ENGIE, former GDF Suez, on the supply of LNG from the Yamal LNG project.

The 23-year contract stipulates annual supply of 1 million tons of LNG from the volumes that Novatek Gas & Power will purchase from Yamal LNG according to the previously signed contract, the company said in a statement.

The liquefied natural gas will be supplied FOB to Montoir-de-Bretagne LNG terminal, where it will be transferred to the LNG vessels of ENGIE’s fleet.

Chairman of the Management Board of Novatek, Leonid Mikhelson stated, “Signing another long-term binding agreement on LNG supply from the Yamal LNG Project ensures well balanced LNG sales portfolio and contributes to closing the Project’s external financing.”

Gerard Mestrallet, Chief Executive Officer of ENGIE, said the volumes agreed under this contract will complement and diversify ENGIE long-term supply portfolio allowing the company to address the growing LNG demand.


Image: Novatek

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