Novatek updates on Yamal LNG

摘要

Russian independent gas producer Novatek is moving forward with its Yamal LNG project, although the chances of a third partner entering seem to be fading. Novatek is confident that it will be able to sell 50pc of the project's LNG before securing financing in 2013-14, chief executive Leonid Mikhelson says. Asia-Pacific and Europe would be the key markets. Mikhelson says a third partner might now not be needed because the project has secured major tax breaks. It is unclear who could ensure LNG supply to Asia-Pacific in December-May.