Report: Russia’s Novatek to mull LNG sales to Thailand’s PTT

MOSCOW, Mar 22 (PRIME) -- Russian independent gas producer Novatek has initiated preliminary talks with Thailand’s PTT to sell it liquefied natural gas (LNG) from Novatek’s future projects, CEO Leonid Mikhelson said in an interview to Rossiya 24 television channel broadcast Tuesday.

“Speaking of the Yamal LNG project, our future production has been almost fully contracted. But we are looking in future and are constantly studying the market. The fastest growing market now may be the Asia–Pacific Region, India, Thailand and so on. And we have initiated preliminary talks with possible partners. I have recently met with PTT, Thailand’s state company,” he said.

“Their gas consumption stands at about 54 billion cubic meters, and its own production is (expected) to fall sharply around 2020–2022, so it is a possible large market.”

The European market currently has a surplus, so Europeans show only moderate interest, he said.

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