Gazprom Inks LNG Deal with Novatek With Eye on Asian Market

摘要

Gas giant Gazprom recently inked a deal to form a joint venture with Novatek, Russia's leading independent gas producer, to produce liquefied natural gas (LNG) for Asia. The Russian gas monopoly is veering around to decrease its dependence on Europe by forming an alliance with Novatek and move towards developing a project on the remote Yamal peninsula in Russia's Arctic with an eye to the Asian-Pacific region markets. The companies plan to approve the main parameters of the project by the end of 2013. Russian President Vladimir Putin has ordered a new focus on Asia in a revamp of Russia's gas export strategy.