Novatek pens small-scale LNG deals in Moscow, Samara regions
Russia's Novatek has signed small-scale LNG cooperation agreements with the governments of the Moscow and Samara regions, the company said on June 17.
The agreements were reached at the St Petersburg International Economic Forum, and are aimed at expanding the use of LNG as a motor fuel and for gas supply to off-grid customers. They also envisage the construction of small-scale LNG plants and relevant sales infrastructure.
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"The use of LNG in transportation and for gas supply will improve the economic efficiency, reduce the environmental footprint and enhance security of power supply, as well as make a positive contribution to the social and economic situation in the regions where we operate," Novatek CEO Leonid Mikhelson said.
Developing the domestic LNG market will help monetise Russia's gas reserves and "pioneer Russian technologies and equipment," he added.