PAO Novatek, Russia’s second largest gas producer, signed a non-binding memorandum of understanding (MoU) with India’s Deepak Fertilisers and Petrochemicals Corp. Ltd. for supply of LNG and low-carbon ammonia.
The MoU envisages spot and long-term LNG deliveries to Deepak Fertilisers, including from the 19.8-million tonne/year Arctic LNG 2 project on the Gyda Peninsula, Novatek said in a release Feb. 7.
The two companies also intend to cooperate in long-term supply of low-carbon hydrogen and ammonia produced with the use of carbon capture and underground storage, cracking, and renewable energy sources at Novatek’s future gas chemical plant on the Yamal peninsula, the company continued. The pre-FEED study for the gas chemical complex was completed in 2022.
A day earlier, in a separate release, Novatek noted plans to delist from the London Stock Exchange (LSE) following the Mar. 3, 2022 trading suspension of the company’s “depository receipts” days after Russia’s invasion of Ukraine.
Mar. 7 will be Novatek’s last LSE trading day. The company will continue listing its shares on the regulated market of the Moscow Exchange, it said.