Deepak Fertilisers, Pao Novatek sign MoU on LNG supply

9 Feb 2023 , 10:25 AM

PAO NOVATEK (NOVATEK), Russia’s largest gas producer, and Deepak Fertilisers and Petrochemicals Corporation Ltd. (Deepak Fertilisers) signed a non-binding Memorandum of Understanding on the supply of LNG and low-carbon ammonia on Wednesday.

The MoU calls for Deepak Fertilisers to receive spot and long-term LNG deliveries, including from the Arctic LNG 2 project. The parties also intend to work together to ensure long-term supply of low-carbon hydrogen and ammonia produced through carbon capture and underground storage, cracking, and renewable energy sources at NOVATEK’s future gas chemical site in Yamal. The gas chemical complex’s pre-FEED study was completed in 2022.

‘Our nations’ mutually beneficial energy partnership continues to thrive, and this MoU will only serve to further bolster it,’ said Leonid Mikhelson, Chairman of the Management Board at NOVATEK.

‘With its premium low-cost resources and cutting-edge process and logistical know-how, NOVATEK is poised to bring competitive LNG with a minuscule carbon footprint to India’s booming energy market,’ he added.

PAO NOVATEK is Russia’s largest independent natural gas producer and entered the global LNG market in 2017 with the successful launch of the Yamal LNG project.

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