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Glencore PLC

Glencore and NOVATEK sign Heads of Agreement on LNG Supply

Jun 2, 2021
Glencore is pleased to announce as part of today’s Saint Petersburg International Economic Forum (SPIEF) that one of its affiliates and NOVATEK Gas & Power Asia Pte. Ltd have signed a Heads of Agreement (“Agreement”) for the long-term supply of LNG from the Arctic LNG 2 project.
 
The Agreement establishes the key commercial terms for the long-term supply in excess of 0.5 million tons of LNG per annum. The LNG will be delivered to a number of locations in East Asia.
 
Ivan Glasenberg, CEO of Glencore, noted: 
 
“We are pleased to sign this Heads of Agreement with Novatek, one of the leading LNG producers globally. Delivering long-term LNG supply into Asia is one example of how we are supporting our customers’ energy transition journey.”
 
Alex Sanna, CEO of Oil Marketing, commented: 
 
“This transaction is another building block in our LNG marketing business. LNG remains one of the key growth pillars of our strategy and we will continue to assess the exciting opportunities we see in the market.”
 
For further information please contact:
 
Investors
Martin Fewings    
t: +41 41 709 28 80    
m: +41 79 737 56 42    
martin.fewings@glencore.com
 
Media
Charles Watenphul    
t: +41 41 709 24 62    
m: +41 79 904 33 20    
charles.watenphul@glencore.com
 

Source: https://www.glencore.com/media-and-insights/news/glencore-and-novatek-sign-heads-of-agreement-on-lng-supply

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