NOVATEK Signs Long-term LNG Contract with Shell

Moscow – OAO NOVATEK has officially announced that Novatek Gas & Power, a wholly owned trading subsidiary of NOVATEK, has signed a long-term contract with Shell International Trading Middle East for the supply of LNG from the Yamal LNG project.

The contract stipulates annual supply of approximately 0.9 million tons of LNG for more than 20 years from the volumes that Novatek Gas & Power will purchase from Yamal LNG according to the previously signed contract.

Chairman of the Management Board of NOVATEK, Leonid Mikhelson stated: “We are currently finalizing NOVATEK’s contract portfolio for the supply of LNG from the Yamal LNG project. Considering the extensive expertise of Shell, we are planning to further develop our cooperation in the LNG sector.”

Shell Vice President of LNG Trading, David Wells, said: “Russia is a country of great importance for Shell.  As a global leader in the LNG sector, Shell welcomes signing of a long-term contract with NOVATEK which is developing its first LNG project in the Russian Arctic.”

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