Hiranandani Group’s H-Energy to buy LNG from Russia’s Novatek: 6.9.2019

हीरानंदानी ग्रुप का एच-एनर्जी रूस के नोवाटेक से एलएनजी खरीदने को राज़ी

Points to Remember:

  • Hiranandani Group’s H-Energy has signed an agreement to buy Liquefied Natural Gas (LNG) from Russia’s Novatek on a long-term basis.
  • The deal was announced hours after PM Narendra Modi arrived in Russia.
  • Besides investing in each other’s LNG projects, Novatek and H-Energy plan to set up a joint venture to market Russian LNG in India, Bangladesh and other markets.
  • The company, however, did not disclose the quantity of gas signed.
  • H-Energy has built LNG terminals in Jaigarh (Maharashtra), Kakinada (Andhra Pradesh) and Haldia (in West Bengal).

About Novatek:

  • Novatek is Russia’s second-largest natural gas producer, and the seventh-largest publicly traded company globally by natural gas production volume.
  • The company was originally known as OAO FIK Novafininvest.
  • Founder: Leonid Mikhelson
  • Founded: August 1994
  • Headquarters: Tarko-Sale, Russia
  • Subsidiaries: Arctic LNG 2, Northgas, Arktikgaz, Arctic LNG 3, etc.
Important Possible questions based on above News:
  1. Who has signed an agreement to buy Liquefied Natural Gas (LNG) from Russia’s Novatek on a long-term basis? H-Energy
  2. LNG company, Novatek belongs to which country? Russia

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