Novatek Mulls Supplying India with LNG

Russia’s Novatek is looking to supply LNG from its Arctic LNG-2 export project to India, deputy minister of energy Anton Inyutsin said August 12 during a plenary meeting of the Russian-Indian business mission that took place in Vladivostok, according to a statement published on the ministry's website.

“Given the growing demand for natural gas in the Indian market and the prospects for the development of new LNG projects, the interaction between Gazprom group and Indian partners in the field of LNG trade is becoming strategic. Novatek is interested in attracting Indian partners to the Arctic LNG-2 project, as well as concluding contracts for the supply of LNG from the Arctic LNG-2 plant,” the deputy minister said.

The Arctic LNG-2 project will comprise three LNG trains with capacity of 6.6mn mt/yr each. The project is expected to become operational in 2022-2023.

Russian Gazprom already supplies LNG to India’s Gail under a long-term contract. India received its first LNG cargo from Gazprom in June last year on LNG Kano under a long-term deal at Petronet’s Dahej terminal in the state of Gujarat. In January 2018, Gail and Gazprom said they had re-negotiated and amended their long-term LNG sale and purchase agreement (SPA), originally signed in the year 2012.