Russia's Novatek, India's Deepak Sign Memorandum On Supply Of LNG, Ammonia

Russian gas major Novatek signed a memorandum with India's Deepak Fertilisers and Petrochemicals Corporation Ltd. on cooperation in the supply of liquefied natural gas and low-carbon ammonia, Novatek said

MOSCOW (UrduPoint News / Sputnik - 06th February, 2023) Russian gas major Novatek signed a memorandum with India's Deepak Fertilisers and Petrochemicals Corporation Ltd. on cooperation in the supply of liquefied natural gas and low-carbon ammonia, Novatek said.

"Today, as part of the Indian Energy Week, Novatek PJSC and Deepak Fertilisers and Petrochemicals Corporation Ltd. signed a non-binding memorandum of understanding in the field of LNG and low-carbon ammonia supplies," the statement says.

The memorandum provides for the supply of LNG to Deepak Fertilisers on a spot and long-term basis, including supplies from the Arctic LNG 2 project.

The parties also intend to cooperate on the implementation of long-term supplies of low-carbon hydrogen and ammonia produced using technologies for capturing and underground storage of carbon dioxide, cracking and renewable energy sources at Novatek's promising gas chemical complex in Yamal.

Pre-feasibility studies (pre-FEED) for the gas chemical complex were completed in 2022, the company specified.