Russia’s Novatek to expand LNG supply to India


Novatek, Russia’s largest liquefied natural gas (LNG) producer, will supply Indian companies including Deepak Fertilisers and Petrochemicals Corporation Ltd. (Deepak Fertilisers) with LNG and low-carbon ammonia following a non-binding Memorandum of Understanding (MoU) signed between the two firms.

The deal aims to deliver spot and long-term LNG supply to Deepak Fertilisers, including from the Arctic LNG 2 project – a major Russian LNG project with a production capacity of 19.8m tonnes per year.

The partners also intend to explore the long-term supply of low-carbon hydrogen and ammonia produced with the use of carbon capture and storage (CCS), cracking and renewable energy sources at Novatek’s planned Yamal gas chemical site.

Citing the development of a ‘mutually beneficial energy cooperation’ between Russia and India, Leonid Mikhelson, Chairman of the Management Board at Novatek, suggested that its ‘high-quality low-cost’ resource base will allow the company to supply competitive LNG with minimal carbon footprint to India’s energy market.

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