Saibu Gas, Novatek JV to Market LNG

Laxman Pai
Friday, September 6, 2019

Japanese natural gas distribution company Saibu Gas and Russian LNG project operator Novatek revealed plans to form a joint venture.

Novatek announced that it has signed the Heads of Agreement (HoA) with Saibu Gas in the presence of the Minister of Economic Development of the Russian Federation Maxim Oreshkin.

According to the Agreement, the Parties intend to establish a joint venture focused on marketing LNG and natural gas to end customers and developing the business for bunkering and gas-fired power generation in Japan and the Asian region, as well as constructing and operating a new LNG storage tank at the Hibiki LNG terminal.

“We have made another important step forward in implementing our strategy to enter the end customer market in key gas consuming countries, among which Japan is one the biggest markets and long time consumer of LNG,” noted Leonid Mikhelson, NOVATEK’s Chairman of the Management Board.

“The creation of our joint venture with Saibu Gas allows us to increase the marketing flexibility of natural gas supplies and create additional opportunities for LNG sales in this important gas consuming region,” Mikhelson added.

Categories: Gas Contract Gas Carriers Energy LNG

Related Stories

Cheniere, JERA Ink Long-Term LNG Sale and Purchase Agreement

Inpex Kicks Off FEED Work for Abadi LNG Scheme Offshore Indonesia

Sapura Energy Rebrands to Vantris Energy

BP, ONGC, Reliance Industries Ink Deal for Offshore Exploration in India

China Starts Production at Major Oil Field in Bohai Sea

CNOOC Finds Oil and Gas in South China Sea

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Fugro Lands Deepwater Gas Field Job in Southeast Asia

OMV Exits Ghasha Gas Project off UAE with Lukoil Stake Sale

Current News

EnQuest Enters Indonesia with Operatorship PSCs for Two Exploration Blocks

PXGEO Nets First Seismic Survey off Malaysia

SPE Offshore Europe 2025 set to drive transformational change for the energy sector

Shipbuilder Delivers Fast Crew Boat Pair to Aesen

Norwegian Oil Investment Will Peak in '25

Saipem Marks First Steel Cut for Tangguh UCC Project at Karimun Yard

Saipem Wins FEED Contract For Abadi LNG Project FPSO Module In Indonesia

Cheniere, JERA Ink Long-Term LNG Sale and Purchase Agreement

Shelf Drilling Lands New Jack-Up Contract in Vietnam, Extends Egypt Deal

Seatrium Engages Axess Group to Clear FPSOs for Brazil Deployment

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