According to first deputy chairman of Novatek’s management board, Lev Feodosyev, the shipment is in line with the company’s goal to expand its supply geography and increase the presence in key Asian markets.
“The first cargo delivered to the growing Indian market is an important development step in this direction,” Feodosyev said.
One of Russia’s largest gas producers, Novatek runs the Yamal LNG project. It comprises natural gas production, liquefaction, and shipping. It is a joint venture of Novatek, France’s Total, China’s National Petroleum Corporation, and the Silk Road Fund. The controlling stake in the enterprise belongs to Novatek. Twenty percent each is owned by Total and CNPC, and the remaining 9.9 percent belongs to the Silk Road Fund.
Since the launch of production at the Yamal LNG plant in the Russian Arctic, Novatek has shipped more than 1 million tons of liquefied gas. A total of four brand new and powerful LNG carriers now shuttle to and from the project’s terminal of Sabetta. Eleven more vessels of the kind are currently under construction.
The ships have powerful icebreaking capacities and are able to ship along the Northern Sea Route in Russia’s Arctic waters, mostly year-round.
Novatek plans another large-scale LNG project, called Arctic LNG-2. The project’s capacity will be over 18 million tons of LNG per year. The company also wants to begin construction of the first LNG train in 2022 or 2023.