One of global diversified natural resource company Glencore’s affiliates has signed a heads of agreement with Russia-based gas producer Novatek Gas and Power for the long-term supply of liquefied natural gas (LNG) from the Arctic LNG 2 project.
The agreement establishes the key commercial terms for the long-term supply in excess of 500 000 t/y of LNG.
The LNG will be delivered to a number of locations in East Asia.
“We are pleased to sign this heads of agreement with Novatek, one of the leading LNG producers globally.
“Delivering long-term LNG supply into Asia is one example of how we are supporting our customers’ energy transition journey,” Glencore CEO Ivan Glasenberg says.