Russia's Novatek Signs 20-Year Deal to Supply Shell With LNG

NovatekA Novatek facility

Russia's second largest gas producer, Novatek, said Thursday that it had signed a long-term contract with Royal Dutch Shell to supply about 0.9 million tons of LNG annually for more than 20 years.

"We are currently finalizing Novatek's contract portfolio for the supply of LNG from the Yamal LNG project. Considering the extensive expertise of Shell, we are planning to further develop our cooperation in the LNG sector," Leonid Mikhelson, Novatek's CEO and co-owner, said in a statement.

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