The LNG will be shipped along Russia’s hazardous northern coast
Novatek signs Arctic LNG China deals
Russian gas supplier to send more cargoes to China, but this time to an independent importer and a provincial state-owned group
Russian gas firm Novatek has signed two deals with Chinese importers for volumes from its Arctic LNG 2 project. The first, an SPA with Chinese independent ENN, is for 0.6mn t/yr and will run for 11 years, although neither party has specified a start date. The second agreement will see Novatek ship 1mn t/yr to state-owned Zhejiang Provincial Energy Group for 15 years. ENN has led the way among Chinese independents in the LNG market, bypassing the state-owned entities that account for the bulk of China’s sizeable imports. The company signed a 13-year, 900,000t/yr deal with the US’s Cheniere last October. Novatek is building a storage and transshipment hub in Kamchatka in Russia’s Pacific Far
Also in this section
23 April 2026
The addition of an oil pipeline to the Power of Siberia 2 gas project could ensure deliveries of Russian oil to China, materially shorten logistics lines between West Siberia and final customers, and—amid disruption in the Strait of Hormuz—offer a land-based export route that reduces exposure to maritime chokepoints
23 April 2026
There is a clear push to bolster exports to Asia amid uncertainty around its North American neighbour, but there are limits to the benefits from the energy crisis
23 April 2026
Shell made the play-opening discovery in Namibia’s Orange basin back in 2022, but its next well could decide whether the project can actually be commercialised
22 April 2026
The failure of OMV Petrom’s keenly watched exploration campaign at Bulgaria’s Han Asparuh block highlights the Black Sea’s uneven track record, despite major successes like Neptun Deep and Sakarya
