6 Feb 2023 13:51

Novatek wants to supply LNG to India, operate on local market; invites country to join projects

BANGALORE. Feb 6 (Interfax) - In addition to supplying LNG to India, Novatek is also interested in operating on the Indian market, Novatek CEO Leonid Mikhelson told reporters in Bangalore on the sidelines of India Energy Week.

Mikhelson added that he invites Indian partners to the company's projects.

"Of course, there are [plans to supply LNG to India], otherwise I would not be sitting here. And of course, we are now negotiating with more than one company for long-term contracts to supply the Indian market," he said.

"And, what is very important, yesterday we discussed [contracts] with Oil Minister Puri and with the companies. Today, in my report to the prime minister, I also spoke about this, that we want to be not just suppliers of LNG to the Indian market. We already have Indian engineering companies taking part in our projects and there is a share of Indian suppliers for certain positions and equipment. We want to expand and increase this," the head of Novatek said.

"We want to invest in the Indian market from the perspective of consumption development - regasification terminals, LNG filling stations. We have experience in Russia and other countries in this area. Of course we invite Indian companies to participate in our projects. And we are keeping to our strategic plans which we announced two years ago - to reach the volume of LNG production of 60-70 million tonnes by 2030."

A total of 33 LNG cargoes or the equivalent of just under 2 million tonnes of LNG have been supplied to India since the Yamal LNG plant went into service.