A deal Novatek secured in July will allow natural gas bought in Europe to supply a German utility, letting Novatek build up a market in advance of LNG it plans to export from 2016, Novatek's CEO said. Novatek will provide 2 billion cubic meters of bought natural gas to Germany's ENBW in what is described as a trading operation. Novatek is barred by law from exporting Russian gas, which is a right exclusively held by Gazprom, so the company is looking for alternatives to enter foreign markets. The deal will help it shape its client base for future LNG sales.
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