Novatek Gas & Power, the Swiss-based trader of Russia’s second biggest gas producer Novatek, purchased 2.38 million tons of liquefied natural gas (LNG) from Yamal LNG, inaugurating the launch of an LNG division, the company announced on January 20, 2017.
Novatek’s CEO Leonid Mikhelson said that the company will be increasing its presence on the global LNG market starting this year. While Novatek’s LNG team is expected to be relatively small, the company has said that it would be comprised of dedicated professionals.
Novatek Gas & Power has already contracted one million tons of LNG to France’s Engie, 0.9 million tons to Shell International Trading Middle East, as well as 0.5 million tons to the energy trading company Gunvor.
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