Novatek in talks on supplying LNG to Turkey

ISTANBUL. Oct 22 (Interfax) - Novatek is in talks on supplying LNG to Turkey, the chairman of Novatek's management board, Leonid Mikhelson, told journalists on the sidelines of the 19th Verona Eurasian Economic Forum.

"Turkey has never faced a shortage of physical volumes, but unfortunately the crisis has also affected the Turkish economy - spot energy supply contracts are always tied to the exchange price, and this has led to huge overpayments. Even before all the crises, when the spot market was just growing, we always urged the preservation of long-term contracts; I am sure this is relevant for Turkey right now," Mikhelson said during a session at the forum.

In a conversation with journalists, Mikhelson confirmed that the matter concerns Novatek's LNG supplies in particular.

He did not specify what stage the talks are at, but noted that they are no longer at the level of discussion.