Novatek Says Yamal LNG Project Can Ensure Supply After U.S. Sanctions
September 30 2019 - 1:21PM
Dow Jones News
By Adria Calatayud
Novatek (NVTK.LN) said Monday that its Yamal liquefied natural
gas project will be able to ship gas on time after an owner of
tankers conducting shipments for the project was hit by U.S.
sanctions.
The Russian gas company said its Yamal project in northern
Russia has all the necessary capacities to ensure supplies of LNG
to customers in accordance with contractual obligations within the
agreed timelines.
Teekay LNG Partners L.P. (TGP), which owns four tankers
conducting LNG shipments for the Yamal projects, has a joint
venture which currently qualifies as a "Blocked Person" under rules
of the U.S. Treasury's Office of Foreign Assets Control. This
follows last week's move by the Trump administration to blacklist
several Chinese firms and their top officials for allegedly
shipping Iranian oil in violation of U.S. sanctions.
The issue to resolve this situation is a business-relations
matter between Teekay and its Chinese partner and Teekay's specific
shipments for the Yamal project aren't related to the sanctions,
Novatek said.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
September 30, 2019 13:06 ET (17:06 GMT)
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