Novatek's Yamal Joint Venture Makes First Gas Shipment
December 11 2017 - 8:21AM
Dow Jones News
By Adam Clark
Novatek (NVTK.MZ) said Monday that its Yamal
liquefied-natural-gas joint venture in Russia has shipped its first
cargo.
The Russian natural-gas producer said the 170,000 cubic meter
shipment was sold to Petronas LNG UK Ltd. Sales on a long-term
contract basis are expected to begin in April 2018, before which
all sales will be made on a spot basis, the company said.
Novatek has a 50.1% stake in Yamal, while France's Total SA
(FP.FR) and China Natural Petroleum Corp. both have 20% interests
and China's Silk Road Fund has a 9.9% holding.
Shares in Novatek in Moscow at 1339 GMT were up 4.3 rubles
($0.07), or 0.6%, at 672.70 rubles.
Write to Adam Clark at adam.clark@dowjones.com;
@AdamDowJones
(END) Dow Jones Newswires
December 11, 2017 09:06 ET (14:06 GMT)
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