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Project Insights

Novatek gearing up for liberalisation of China’s gas market

With plans to establish a foothold in China already in motion, Russia’s largest private gas producer wants to broaden its Chinese customer base from the NOCs to smaller players With plans to establish a foothold in China already in motion, Russia’s largest private gas producer wants to broaden its Chinese customer base from the NOCs to smaller players.
By Colin Shek 4 July 2019 Asia Pacific / LNG 0 34369
An icebreaker LNG tanker at Novatek's Yamal plant. (Novatek)

Novatek sees its new LNG and gas trading joint venture in China as a stepping stone to eventually selling supplies to Chinese companies directly and independently, Mark Gyetvay, the Russian LNG producer’s chief financial officer, has told Interfax.

The developer of the Arctic 2 LNG project announced one month ago that it had agreed to form a JV with Gazprombank and China’s state-owned Sinopec to market LNG and gas to end-customers in China. Details have been scarce since the announcement, but in an...