Novatek Signs 15-Year Deal With CNPC on LNG Supplies From Yamal
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OAO Novatek, Russia’s second-biggest natural-gas producer, will supply the fuel in its liquefied form to China National Petroleum Corp. for 15 years, according to a preliminary accord signed today.
Novatek will sell at least 3 million metric tons of liquefied natural gas a year to CNPC on delivered ex-ship terms, with the price indexed to the Japanese Crude Cocktail, the Tarko-Sale, Russia-based gas producer said today in a statement. The agreement was signed during Prime Minister Dmitry Medvedev’s visit to Beijing. The period of supplies can be extended, according to the statement.