"PAO NOVATEK ("NOVATEK" and/or the "Company") announced today that NOVATEK Gas and Power Asia Pte. Ltd., a wholly owned subsidiary, has shipped to the Indian market its first cargo with LNG produced by the Yamal LNG project," the company’s press release read.
The statement also quoted Novatek’s First Deputy Chairman of the Management Board Lev Feodosyev who said that one of the company’s goals was the expansion of the supply geography and the growth of its presence in key Asian markets.
"The first cargo delivered to the growing Indian market is an important development step in this direction," Feodosyev added.
Novatek is one of the Russia’s largest independent gas producers. It has a share in Yamal LNG located in the Russian Arctic. The project comprises natural gas production, liquefaction, and shipping. The facility is a joint venture of Novatek, France's Total, China National Petroleum Corporation, and the Silk Road Fund, which hold 50.1, 20, 20, and 9.9 percent of the shares in the project respectively.