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Project Insights

Novatek to pace itself with China venture

Novatek has ramped up LNG sales to China over the past year, but the company will take its time with moving any further into the Chinese gas market Novatek has ramped up LNG sales to China over the past year, but the company will take its time with moving any further into the Chinese gas market.
By Colin Shek 26 June 2019 Asia Pacific / LNG 0 34347
Novatek's Yamal LNG plant in northern Russia. (Novatek)

Novatek has no immediate plans to follow up the proposed development of an LNG-to-power project in Vietnam agreed earlier this year with an expansion into the downstream gas sector in China, the Russian company’s chief financial officer, Mark Gyetvay, said in Singapore on Wednesday.

“At this critical juncture right now, since we just signed a joint venture agreement to establish a trading operation in China, I think let us get that up and running first and then we can decide on what the next steps are,”...