Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Novatek Signs 15-Year Deal With CNPC on LNG Supplies From Yamal

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.

Novatek, which is leading the $20 billion LNG project in the Russian Arctic region, is challenging state-run OAO Gazprom’s monopoly on supplies of super-chilled fuel abroad to benefit from the Asian nation’s rising energy demand. Russia plans to allow Novatek, as well as oil producer OAO Rosneft, to export LNG from next year.

CNPC agreed in June to buy a 20 percent stake in the Yamal LNG project, joining Novatek and partner Total SA. The deal is expected to be completed by Dec. 1.

Yamal LNG at full capacity will produce 16.5 million tons a year of LNG starting from the end of 2016, according to Novatek.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.