Saibu Gas, Novatek JV to Market LNG

September 6, 2019

Image: Novatek
Image: Novatek

Japanese natural gas distribution company Saibu Gas and Russian LNG project operator Novatek revealed plans to form a joint venture.

Novatek announced that it has signed the Heads of Agreement (HoA) with Saibu Gas in the presence of the Minister of Economic Development of the Russian Federation Maxim Oreshkin.

According to the Agreement, the Parties intend to establish a joint venture focused on marketing LNG and natural gas to end customers and developing the business for bunkering and gas-fired power generation in Japan and the Asian region, as well as constructing and operating a new LNG storage tank at the Hibiki LNG terminal.

“We have made another important step forward in implementing our strategy to enter the end customer market in key gas consuming countries, among which Japan is one the biggest markets and long time consumer of LNG,” noted Leonid Mikhelson, NOVATEK’s Chairman of the Management Board.

“The creation of our joint venture with Saibu Gas allows us to increase the marketing flexibility of natural gas supplies and create additional opportunities for LNG sales in this important gas consuming region,” Mikhelson added.



Current News

Petronas Q2 Profit Rises 8%

Petronas Q2 Profit Rises 8%

Timor Resource to Drill 5 Wells in Timor-Leste

Saudi Aramco Pursues IPO Planning Despite Attack

Saudi Aramco Pursues IPO Planning Despite Attack

Middle East Risks Keep Oil Prices High

Middle East Risks Keep Oil Prices High

Transborders Joins Forces with Osaka Gas

Transborders Joins Forces with Osaka Gas

BP Awards Caspian ACG Contracts

BP Awards Caspian ACG Contracts

Senvion to Sell Assets to Siemens Gamesa

Senvion to Sell Assets to Siemens Gamesa

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week