NOVATEK announced the signing of a long-term sale and purchase agreement (SPA) with ENN LNG (Singapore) Pte. Ltd., a subsidiary of ENN Natural Gas Co., Ltd. for the liquified natural gas produced from the Arctic LNG 2 project.
According to the agreement, NOVATEK will supply approximately 0.6 million tons of LNG per annum from the Arctic LNG 2 project for 11 years. Deliveries of LNG will take place on a DES basis to ENN’s Zhoushan LNG Receiving Terminal in China.
In this regard, NOVATEK’s Chairman of the Management Board, Leonid Mikhelson, said “We have reached another milestone in successful marketing of NOVATEK’s share of LNG to be produced by our Arctic LNG 2 project.”
“This is another LNG SPA for delivery to the Chinese market, which is in line with our LNG strategy to expand sales to the Asia-Pacific region with its growing demand for clean-burning natural gas,” Mikhelson added.