Russia’s Novatek Seeks Tie-Up With Qatargas

Russia’s Novatek Seeks Tie-Up With Qatargas

Novatek, Russia’s second largest gas producer, is interested in a tie-up with Qatargas, the world’s biggest LNG exporter, as it seeks to expand its gas trading business, Russian Energy Minister, Alexander Novak said according to The Peninsula Qatar. “Our company Novatek is interested in marketing of this type of fuel (LNG) jointly with a Qatari company,” Novak told reporters at a joint briefing with Qatari Minister of Energy and Industry,  H.E. Mohammed bin Saleh Al Sada.

The largest non-state gas producer in Russia is barred from exporting natural gas to Europe by pipelines as state-owned Gazprom has the exclusive rights to ship gas abroad, legislation that Novatek is challenging. Furthermore, the company plans to start its own liquefied natural gas (LNG) production in 2017 at its plant in Russia’s Yamal peninsula, which it is building with France Total and China’s CNPC and Silk Road Fund, TradeArabia reported.


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