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Eastern Economic Forum

Novatek chairman says Indian market to become priority for company

The company intends to build ties so as to enable selling gas to end customers, Leonid Mikhelson added

VLADIVOSTOK, September 12. /TASS/. Novatek views the Indian market as a priority for the company as the country will soon become the world’s leader in terms of growth of gas consumption, Chairman of the Management Board Leonid Mikhelson told reporters on the sidelines of the Eastern Economic Forum (EEF), adding that the negotiating process is tough, although a breakthrough is possible as early as 2024.

"The negotiating process is very tough," he said. "I believe that in terms of growth rates India will be the leader [globally], it is a priority for us. The market should be considered deeper than just finding a partner for sales of LNG at a regasification terminal," Mikhelson added.

The company intends to build ties so as to enable selling gas to end customers, he noted.

"Hopefully there will be some breakthrough next year," the chairman added.

The 8th Eastern Economic Forum (EEF) is being held in Vladivostok on September 10-13, 2023. The slogan for this year’s forum is: On the Path to Partnership, Peace and Prosperity. The Roscongress Foundation is the event organizer. TASS is the EEF’s general information partner.

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