Novatek Signs MoU with Petronet LNG

Laxman Pai
Thursday, September 5, 2019

Russia’s largest independent natural gas producer Novatek signed a memorandum of understanding (MoU) on cooperation with India’s largest liquefied natural gas importer Petronet LNG.

The MoU envisages delivering LNG supplies from Novatek's portfolio to the Indian market, including natural gas supplies for power generation, as well as investment by Petronet LNG in Novatek's future LNG projects and the joint marketing of LNG as motor fuel in India, including joint investment in developing a network of filling stations and a fleet of LNG-fueled trucks.

“India’s rapid economic growth requires increasing demand for all sources of energy and, primarily, for natural gas as the most environmentally friendly type of fuel. Moreover, the conversion of modal transport to LNG enables India to significantly reduce carbon emissions, thereby contributing to India’s commitment toward reducing its impact on climate change,” noted Leonid Mikhelson, Novatek's Chairman of the Management Board.  

“Our low-cost production from future Arctic LNG projects ensures competitively priced LNG supplies to most regions of the world, and we are confident that our mutually beneficially cooperation with Petronet LNG will promote the supply of affordable clean burning natural gas to the Indian market,” Leonid added.

Categories: People & Company News Energy LNG Contract

Related Stories

Sapura Energy Nets $22.6M in Offshore Support Vessel Contracts

Borr Drilling Bags Three New Assignments for its Jack-Up Drilling Rigs

Eneos Scoops Jack-Up Drilling Contract Offshore Vietnam

CNOOC Makes Major Oil and Gas Discovery in South China Sea

ADNOC Signs 15-Year LNG Supply Deal with Osaka Gas for Ruwais Project

SLB Names Raman CSO, CMO

ADNOC Secures LNG Supply Deal with India's BPCL

Japan's Mitsui Eyes Alaska LNG Project

ADES’ Fourth Suspended Jack-Up Rig Gets Work Offshore Thailand

Flare Gas Recovery Meets the Future

Current News

MODEC, Sumitomo Partner Up for Delivery of Gato do Mato FPSO

Chuditch Gas Field Up for Summer Drilling Ops as Sunda Reshapes Ownership Structure

EnQuest Bags Two Production Sharing Contracts off Indonesia

Hanwha Drilling’s Tidal Action Drillship En Route to Petrobras’ Roncador Field

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

MODEC Wins ExxonMobil Guyana’s Hammerhead FPSO Contract

India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks

Indonesia Awards Oil and Gas Blocks to Boost Reserves

Sapura Energy Nets $22.6M in Offshore Support Vessel Contracts

CNOOC Puts Into Production New Oil Field in South China Sea

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com