Russia's Novatek Enters LNG Spot Market with First Shipment to Chile

Reuters

MOSCOW, July 7 (Reuters) - Novatek, Russia's No. 2 gas producer, said on Thursday it had begun trading operations by sending the first cargo of liquefied natural gas (LNG) from Shell's plant in Trinidad and Tobago to the Chilean port of Quintero.

The shipments were made by Novatek Gas & Power, a subsidiary 100 percent owned by Novatek.

"This first shipment is an important step for Novatek to enter the international LNG market," Novatek cited its Deputy Board Chairman and Commercial Director Lev Feodosyev as saying.

"After the launch of the first stage of Yamal LNG, we will enter the LNG market with our own output, and for us it is important to acquire trading experience on the spot market."

(Reporting by Olesya Astakhova Writing by Dmitry Solovyov; editing by Vladimir Soldatkin)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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