Novatek enters spot.
Edited by Rhod Mackenzie / 2016-06-20 06:29:02
CNPC Finance Oil and Gas Russia Financial results China Oil and Gas Russia Oil and Gas Exxon Gas LNG Novatek Shell
Company does not like the long-term contracts for LNG.
New LNG project of Novatek at Gydane is not focused on long-term contracts but on the spot market, where sales could reach 50%. This will be a precedent even for the world practice. The company expects to reduce the cost of LNG from a future plant thanks to alternative technical concepts. But analysts are cautious about the new marketing strategy, noting that it will complicate raising finance to implement an expensive project.
