Leonid Mikhelson, Novatek’s CEO and key shareholder, as well as a Putin-linked oligarch, made the announcement on Sept. 9, independent outlet The Moscow Times reported. Mikhelson previously said Novatek was discussing the supply of 1 million metric tons of LNG to Vietnam.
The company is seeking new export markets for its LNG amid the European Union’s phased ban on Russian gas imports.
Novatek owns two large-scale LNG plants (Yamal LNG and Arctic LNG 2) and one medium-scale facility, Cryogas-Vysotsk. Arctic LNG 2 and Cryogas-Vysotsk are subject to Western sanctions.
China is preparing a second import terminal to handle LNG shipments from Arctic LNG 2, which is under Western sanctions, according to earlier reports. EU countries imported record volumes of LNG from Russia’s Yamal LNG plant in the first half of 2026, ahead of a ban on Russian supplies that will take effect next year.
The EU banned Russian LNG imports under short-term contracts in April, but imports under long-term contracts can continue until Jan. 1, 2027.
EU purchases of LNG from Yamal between January and June 2026
were estimated at EUR5.96 billion ($6.82 billion). The three largest
destinations were France, Belgium and Spain.