Trader NOVATEK began to sell gas

Trader Novatek Gas & Power, controlled by NOVATEK, has delivered the first batch of liquefied natural gas (LNG), reported a press-service of the company. The LNG cargo was delivered from the factory in Trinidad and Tobago in the port of Quintero in Chile. The volume of delivered gas, the company does not disclose.

After the commissioning of the first phase of the project “Yamal LNG”, which is scheduled for 2017, the company will enter the LNG market already with its own volumes [of gas], said the Deputy Chairman of the Board of NOVATEK Leo feodosiev (his words are reported). “It’s important for us to gain experience of trading in the spot market,” he added.

Yamal LNG — one of the main projects of NOVATEK. It involves the construction of a LNG plant with a capacity of 16.5 million tons per year. The resource base for the project — the South-Tambeyskoye field. NOVATEK owns 50.1% of Yamal LNG, 20% by French Total and Chinese CNPC, the remaining 9,9% of the Fund’s silk road (Silk Road Fund).