NOVATEK creates a subsidiary to develop the domestic fuel LNG market

NOVATEK – LNG Fuel will build small-scale LNG plants, facilitate LNG wholesale markets and develop a retail network for LNG as a fuel.


PAO NOVATEK, the largest independent producer of natural gas in Russia, will establish a subsidiary called NOVATEK – LNG Fuel to build small-scale LNG plants, facilitate LNG wholesale markets and develop an LNG retail network as fuel, as well as supplying LNG under the autonomous gasification program in the Russian domestic market.

NOVATEK is actively developing the production and sale of LNG as a fuel. In 2020, the company launched a small-scale LNG plant in Magnitogorsk, Chelyabinsk region, with a capacity of 40,000 tonnes per year. At present, the company has 12 LNG refueling stations in Russia and plans to further expand the production and distribution networks of clean combustion fuels for transportation.

“We are creating a subsidiary dedicated to developing the domestic LNG fuel market as part of our commercial marketing strategy,” said Leonid Mikhelson, Chairman of the Board of NOVATEK.

Founded in 1994, PAO NOVATEK entered the global LNG market in 2017 by launching the Yamal LNG project. The Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons.

Associated content

Discuss


Source link

About Warren Dockery

Check Also

There is now less liquid Bitcoin to buy than at the ‘lowest generation’ of 2018

Disclaimer: This article contains Technical Analysis, which is a methodology to forecast price direction through …

Leave a Reply

Your email address will not be published. Required fields are marked *