Gazprom’s Miller and Novatek’s Mikhelson meet to talk cooperation

Gazprom’s chief executive Alexei Miller and his counterpart in Novatek, Leonid Mikhelson, met on Thursday in Russia’s Saint Petersburg.

The two CEOs “reviewed issues pertaining to cooperation between the companies,” Gazprom said in a statement.

The state-owned gas giant did not reveal any additional information.

Gazprom and independent LNG producer Novatek are already cooperating on the latter’s huge Yamal project in the Russian Arctic.

In January 2015, Gazprom Marketing & Trading Singapore, part of Gazprom, agreed to buy LNG from the project for a period exceeding 20 years.

Moreover, the contract provides for the annual supply of 2.9 million tons of LNG.

Novatek recently announced the project had shipped 50 million tons of liquefied natural gas since it started production from the first train in 2017.

In 2020, the facility produced 18.8 million tons of LNG accounting for more than 5% of the global LNG market, according to Novatek.

Novatek is developing several other large liquefaction projects as it looks to become one of the largest producers of LNG, but Gazprom has also big plans for the industry.

The firm already operates Russia’s first LNG plant in Sakhalin and it also aims to develop other projects, including the Ust-Luga development.

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