Novatek, Saudi Aramco ink LNG memorandum

Image courtesy of Novatek

Russian LNG export player Novatek signed a memorandum of understanding (MOU) with Saudi Aramco, the Saudi Arabian national oil company, for cooperation on international projects including LNG.

According to the MoU, the two companies agreed to collaborate internationally on natural gas projects, including LNG supplies, development of LNG markets, gas exploration and production projects, as well as research and technology development.

Novatek’s chairman Leonid Mikhelson said Novatek has gained unique and valuable experience of developing LNG-projects in the Russian Arctic area, adding the company’s plan to rapidly grow its LNG production is “attracting international partners” such as Saudi Aramco to jointly collaborate in gas markets.

Media previously reported the two companies were mulling cooperation on Novatek’s second liquefied natural gas export project the Arctic LNG 2 on the Gydan peninsula. Russian news agency, TASS, reported, citing Russia’s energy minister Alexander Novak, that the memorandum of understanding is the first step while specific details for the Arctic LNG 2 project are being worked on.

Novatek’s second project was planned to have a similar output as the Yamal LNG that began exporting in December last year, however, the planned capacity has been bumped to 19.8 million tons per year earlier this month.

 

LNG World News Staff

Share this article

Follow LNG World News

Events>

<< Oct 2018 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

LNG Supply, Transport & Storage South Asia Forum 2018

LNG Supply, Transport & Storage South Asia Forum 2018 will address and propagate LNG imports…

read more >

Offshore Energy Exhibition & Conference 2018

Offshore Energy Exhibition & Conference (OEEC) is Europe’s leading offshore energy event.

read more >

LNG Philippines Forum 2018

LNG’s role in the Philippines’ energy mix will only get bigger…

read more >

5th Mozambique Gas Summit & Exhibition

Following the Summit’s success in 2017, the CWC Group in partnership with ENH and with the support and participation from MIREME and INP, are delighted to invite you to the 5th edition of the Mozambique Gas Summit & Exhibition taking place at a larger venue this year, the NEW Joaquim Chissano Conference Centre in Maputo on 31 October – 2 November 2018.

Recognised as the leading strategic meeting for Mozambique’s gas industry, the event addresses the entire gas and LNG value chain bringing together Government officials with industry stakeholders for 3 highly interactive days of networking and frank discussions aiming to establish Mozambique as the next international gas hub.

More info

read more >