Breaking the ice: First LNG cargo from Russia’s Arctic arrives in Japan

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Russian energy giant Novatek has announced the first delivery of its liquefied natural gas (LNG) from the Yamal project in the Arctic to Japan. It was unloaded at the Tobata LNG Terminal in accordance with the delivery schedule.

The shipment was carried out in accordance with the long-term agreement with France’s Total.

“Japan is an important LNG market and one of the priority destinations in our LNG marketing strategy,”  said Novatek’s chairman of the management board Leonid Mikhelson.

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He added that further development of the logistical chain using the Northern Sea Route and a transshipment terminal in Kamchatka will expand LNG supplies to Japan “as well as strengthen trade and economic links between our respective countries.”

Novatek has already been shipping LNG to Brazil, China, India, and other countries. The company aims to expand its supply geography and increase the presence in key Asian markets.

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The $27 billion Yamal LNG project began operations in 2017 and has already shipped ten million tons of the liquefied fuel. The LNG plant has three trains with an annual capacity of 17.4 million tons per year.

Besides Novatek, Yamal LNG’s shareholders also include France’s Total, China’s CNPC and the Silk Road Fund.

For more stories on economy & finance visit RT’s business section

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