Russia’s largest independent gas producer, Novatek, signed a trilateral memorandum of understanding with Japan’s Marubeni Corporation and Mitsui O.S.K. Lines (MOL), for the LNG transshipment project in Kamchatka Region.
Under the MOU, the companies plan to explore the opportunities to establish an LNG transshipment and marketing complex in the Kamchatka region, including investments in this infrastructure project.
Novatek’s CEO Leonid Mikhelson said, “one of the main advantages of creating an LNG transshipment terminal at Kamchatka is its close proximity to consumers and the opportunity to ensure flexible sales terms for the key consuming markets of the Asian-Pacific region.”
Novatek has already signed a cooperation agreement with the regional government of Kamchatka on building the facility that would allow Arctic ice-class tankers to reload LNG onto conventional tankers.
Novatek noted in an earlier statement that the facility would optimize the logistics of LNG supplies from the Arctic region, stimulate usage of the Northern Sea Route, and create a new LNG supply hub for Asian-Pacific regional consumers.