Gazprom, Novatek to Build LNG Facility to Boost Asian Exports

Reuters reported that, in a move to expand Russian gas companies into the Asian market, Gazprom and Novatek signed a deal which will allow them to build LNG production facilities on the Arctic Yamal peninsula.

As quoted in the market report:

The new facilities would be near a project already proposed by Novatek to build a 16.5 million tonne LNG facility on Yamal in partnership with Total. The total capacity of both on Yamal would eventually amount to over 30 million tonnes per year.

To view the whole Reuters report, click here.