India’s H-Energy Global Ltd and Russia’s PAO NOVATEK have inked a MoU on LNG cooperation agreement during the Eastern Economic Forum in the Siberian city of Vladivostok.
The MoU envisages cooperation in LNG supplies to India on a long-term basis, joint investment in LNG terminals of H-Energy and LNG projects of NOVATEK, as well as establishing a joint venture to market LNG and natural gas from NOVATEK’s portfolio to end-customers in India, Bangladesh and other markets.
Speaking on the occasion, Darshan Hiranandani, CEO, H-Energy said, “H-Energy is excited to partner with NOVATEK in Arctic LNG 2, to participate in and bring supplies to the downstream customers in India and Bangladesh through its terminals in Jaigarh, Kakinada, Haldia and its two pipelines Jaigarh to Mangalore and Kannai Chatta to Shrirampur ensuring safe, reliable and economic supply chain from gas field to burner tip.”
H-Energy and NOVATEK will endeavour to work together in the future LNG projects, mid-stream assets like LNG reloading and re-gasification terminals, cross-country pipelines, and small-scale LNG and L-CNG infrastructure.