Novatek and India's Deepak sign agreement on LNG supplies
Russia’s Novatek and Deepak Fertilisers, an Indian manufacturer of fertilizers and industrial chemicals, have signed a memorandum on the supply of low-carbon ammonia and LNG, including from the Arctic LNG 2 project.
“The Memorandum provides for the supply of LNG to Deepak Fertilisers on the spot as well as long-term contract markets, including supplies from the Arctic LNG 2 project. The parties also intend to negotiate long-term supplies of low-carbon hydrogen and ammonia, which are produced using technologies for the captur and underground storage of carbon dioxide, cracking and using renewable energy sources at Novatek’s innovative gas chemical facility in Yamal,” the companies reported.
According to Novatek head Leonid Mikhelson, mutually beneficial energy cooperation between the two countries is growing fast, and the new memorandum will contribute to its further strengthening.
Mikhelson noted that the company can supply LNG with a minimum carbon footprint to the Indian energy market due to its low-cost resource base and efficient logistics solutions.