LNG

Novatek considering hub pricing for Arctic LNG 2 – Mikhelson

Novatek is talking to potential customers for its Arctic 2 LNG project about moving away from oil indexation in its supply contracts.
By Staff reporter 23 February 2018 0 29710

Novatek is talking to potential customers for its Arctic 2 LNG project about moving away from oil indexation in its supply contracts, Leonid Mikhelson, the company’s chief executive, said on Thursday.

“The petroleum market is very volatile. The LNG market is becoming global, not a selective market. If you look at the European market, which has certain hubs, it is already possible to peg gas prices [to hubs]. It can be done and it is taking place on the European market. Of course, we are holding...