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.
The natural-gas producer said that the facility will allow Arctic tankers to reload LNG onto conventional tankers.
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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)