Novatek and Saibu Gas Co., Ltd. (Japan) have signed a Memorandum of Understanding, whereby the parties agreed to consider potential cooperation to enter the end-customer market and optimize Novatek’s LNG portfolio supplies to the Asia-Pacific region by utilizing Hibiki LNG terminal in Japan.
According to Lev Feodosyev, First Deputy Chairman of the Novatek Management Board, “The Asia-Pacific region is a priority destination for Novatek’s LNG projects. Our ability to use the Hibiki terminal will help diversify our customer base and increase the flexibility of deliveries to the premium LNG markets.”
Saibu Gas put into operation their Hibiki terminal on the island of Kyushu in 2014. The current capacity of the terminal is 7.45 mn tons per annum, the tanks farm consists of two reservoirs for 180 thousand tons each.
In November this year Novatek signed a memorandum of understanding with two other major Japanese players, Marubeni Corporation and Mitsui O.S.K. Lines for a joint feasibility study aimed at establishing an LNG transshipment and marketing complex off Kamchatka Peninsula.
The would-be Kamchatka terminal is expected to considerably cut costs for shipping LNG to the Asia Pacific. The planned terminal capacity is 20 mn tons.