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Novatek Secures Buyers for All Arctic LNG 2 Volumes - Natural Gas Intelligence

Novatek Secures Buyers for All Arctic LNG 2 Volumes PAO Novatek, Russia’s largest independent natural gas producer, has contracted all of the supply from its proposed Arctic LNG 2 export project under development north of Siberia on the Gydan Peninsula. The company said it has signed 20-year sales and purchase agreements (SPA) with the project’s participants for its 19.8 million metric tons/year capacity. Arctic LNG 2 includes three trains that are slated to come online between 2023 and 2026. Novatek holds a 60% stake, while China National Offshore Oil Corp., China National Petroleum Corp, Japan Arctic LNG and Total SE each hold 10%.  The SPAs provide for LNG supplies on a free-on-board basis and include pricing formulas linked to unspecified international oil and gas benchmarks. 

Iran again boosts OPEC oil output in April

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Perfect Pump? Gas prices on the rise

  WINDSOR, ONT. As we head into spring and summer, expect gas prices to rise faster than the temperatures. Gas prices typically tend to climb going into the summer months when more people travel. “I’m not concerned at all,” says one driver who was filling up his tank Wednesday afternoon. But this year, it’s expected there will be a bigger than usual spike in summer travel, as more people get vaccinated and feel comfortable going on trips they’ve been putting off over the past year. Senior consultant at Kalibrate, Vijay Muralidharan, says crude prices have been strong as of late.

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