Novatek (NVTK.LN) said on Monday that it had signed an agreement with the regional government of Kamchatka to build a liquefied natural-gas terminal in the region in the far east of Russia.
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The natural-gas producer said that the facility will allow Arctic tankers to reload LNG onto conventional tankers.
Leonid Mikhelson, chairman of Novatek's management board, said that the terminal will allow for the optimization of LNG supplies from the Arctic region, stimulate the Northern Sea Route, and create a new LNG supply hub for Asia-Pacific regional consumers.
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(END) Dow Jones Newswires
October 23, 2017 11:03 ET (15:03 GMT)