The company signs Memorandum of Understanding with Marubeni and MOL
Novatek has signed a trilateral Memorandum of Understanding with Marubeni Corporation and Mitsui O.S.K. Lines, Ltd. (MOL).
According to Novatek, the document defines the parties’ intentions and includes a specific action plan to explore the opportunities to establish an LNG transshipment and marketing complex in the Kamchatka Region, including investments in this infrastructure project.
Prior to this, Novatek signed a cooperation agreement for developing a LNG terminal in Kamchatka with the regional government.
The planned capacity of the floating unit to be used for transshipping liquefied gas carried from Novatek’s Yamal projects is 20 mn tons. This volume is to be reached in several stages.
Novatek expects that the terminal will allow to cut the number of expensive ice-class LNG tankers required to transport gas from Yamal along the Northern Sea Route.
The company intends to put the terminal in Kamchatka in operation in 2022-2023.