OAO Novatek

11/25/2020 | Press release | Distributed by Public on 11/25/2020 05:03

NOVATEK Completes First Ship-to-Ship LNG Transshipment in the Murmansk Region

25 November 2020

Moscow, 25 November 2020. PAO NOVATEK ('NOVATEK' and/or the 'Company') announced today that NOVATEK-Western Arctic, a wholly owned subsidiary, completed Russia's first ship-to-ship LNG transshipment in the Kildin Strait of the Barents Sea. The Arc7 ice-class LNG tanker 'Nikolay Yevgenov' successfully reloaded an LNG cargo delivered from the Yamal LNG facility at Sabetta to the conventional tanker 'Yamal Spirit'.

The ship-to-ship transfer was conducted at a temporary LNG Offshore Transshipment Complex in the Murmansk region within the seaport of Murmansk. The LNG Transshipment Complex will ensure uninterrupted year-round LNG transshipment from the ice-class tankers carrying LNG produced in the Russian Arctic to conventional LNG tankers.

The transshipment operations were conducted in compliance with all applicable Russian environmental requirements, and included representatives from NOVATEK-Western Arctic, the Russian and foreign shipowners, auxiliary fleet operators and the LNG transshipment operators. The safety of navigation was ensured by the seaport of Murmansk and Rosmorport.

The ship-to-ship transshipment complex in the Murmansk Region represents another significant milestone in developing NOVATEK's LNG supply chain from the LNG facilities located in the Russian Arctic to the global natural gas consuming markets. The creation of the transshipment infrastructure allows the Company to develop its internal competencies to perform LNG transshipment in the Russian Federation, as well as optimizing the Arctic tanker fleet.

PAO NOVATEK is the largest independent natural gas producer in Russia, and in 2017, entered the global LNG market by successfully launching the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. Upstream activities of the Company's subsidiaries and joint ventures are concentrated mainly in the prolific Yamal-Nenets Autonomous Region, which is the world's largest natural gas producing area and accounts for approximately 80% of Russia's natural gas production and approximately 15% of the world's gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation. The Company's shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol «NVTK».