Novatek Gas & Power opening LNG division
DAVOS. Jan 20 (Interfax) - Novatek Gas & Power, the Swiss-based trader of Russian gas producer Novatek that has bought 2.38 million tonnes of liquefied natural gas (LNG) from Yamal LNG, is opening an LNG division.
"Novatek Gas & Power has a contract to also buy from Yamal LNG. We need to enter the LNG market, starting this year we will have a presence on it and expand our presence," Novatek CEO Leonid Mikhelson said in an interview with Interfax.
The LNG division will have a small team, he said. "I hope a small, but very professional [team]," Mikhelson said.
Of the 2.38 million tonnes of LNG it bought, Novatek Gas & Power has contracted 1 million tonnes to France's Engie, 0.9 million tonnes to Shell International Trading Middle East and 0.5 million tonnes to trader Gunvor.