Russian independent gas producer Novatek has signed a memorandum of understanding on the supply and sale of LNG with the Indian Petronet LNG Limited, a TASS correspondent reported from the signing ceremony as part of the visit of Indian Prime Minister Narendra Modi to the EEF.
The document provides for the development of joint business on selling LNG in India and gas supplies.
Earlier, Energy Minister Alexander Novak told TASS that Indian companies are interested in buying gas from Novatek’s future projects - Arctic LNG-2 and Arctic LNG-3.
Arctic LNG-2 with a capacity of about 19.8 tonnes of LNG per year is Novatek’s second LNG producing plant after Yamal LNG. It will be based on the reserves of the Utrenneye field on the Gydan Peninsula in the Yamalo-Nenets Autonomous District. The launch of the plant is expected in 2022-2023.
Arctic LNG-3 is another LNG project planned by Novatek. It will be based on the North Ob license area with reserves of at least 320 bln cubic meters and resources exceeding 900 bln cubic meters.
Last year, Russia conducted first LNG supplies from the Yamal LNG plant to India.