Novatek, Russia's No. 2 gas producer, said on July 7 it had begun trading operations by sending the first cargo of LNG from Royal Dutch Shell's (NYSE: RDS.A) plant in Trinidad and Tobago to the Chilean port of Quintero.
The shipments were made by Novatek Gas & Power, a subsidiary 100% owned by Novatek.
"This first shipment is an important step for Novatek to enter the international LNG market," Novatek cited Lev Feodosyev, its deputy board chairman and commercial director, as saying.
"After the launch of the first stage of Yamal LNG, we will enter the LNG market with our own output; and for us it is important to acquire trading experience on the spot market," Feodosyev said.
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