Novatek to launch LNG bunkering by end-March

Russian natural gas producer Novatek is aiming to launch LNG bunkering operations in Vysotsk on the Baltic by the end of March, reports said.

Novatek ceo Leonid Mikhelson revealed the plan to Russian president Vladimir Putin during their recent meeting.

“The first line will be 600,000 tonnes, and next year we will probably decide on two more lines for another 1.2 million tonnes. Bunkering services are gaining momentum in the Baltic, so I think that there will be demand for these services”, Mikhelson was quoted as saying by the RF President’s press service.

In January, Novatek entered an agreement with Sovcomflot to charter in three LNG-powered MR tankers.

Read more: Sovcomflot orders three LNG powered MR tankers from Zvezda shipbuilding

Mikhelson briefed the president that with anticipated rising demand for LNG, Novatek’s strategy is to produce 57 million tonnes of LNG by 2030.

“I am citing the figure now because we are confident of our ability to reach this target. Moreover, an upward revision of the figure to 70 million tonnes is possible in a year or two,” Mikhelson said.

Posted 05 March 2019

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Lee Hong Liang

Asia Correspondent

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