Novatek, Japan's Saibu Gas Ink MoU

Russia’s Novatek and Japan’s Saibu Gas are looking to cooperate in the LNG space.

The two companies signed a memorandum of understanding, whereby they have agreed to consider potential cooperation to enter the end-customer market and optimise Novatek’s LNG portfolio supplies to the Asia-Pacific region by utilising Saibu’s Hibiki LNG terminal in Japan, Novatek said December 27.

“The Asia-Pacific region is a priority destination for Novatek's LNG projects. Our ability to use the Hibiki terminal will help diversify our customer base and increase the flexibility of deliveries to the premium LNG markets,” Novatek’s first deputy chairman of the management board Lev Feodosyev said.

Novatek operates the 16.5mn mt/yr Yamal LNG plant and is planning a 19.8mn mt/yr Arctic LNG-2 project.