Enel Russia And Novatek Extend Gas Contract

The largest independent gas producer in the Russian Federation – Novatek (MCX: NVTK) and the Russian generating company controlled by the Italian concern Enel (MI: ENEI) Russia extended the gas contract for another three years, according to a message from the power company.

The current three-year contract expires at the end of this year, according to which Novatek supplied energy companies about 2 billion cubic meters of gas per year.

The new contract for 2019-2021 is estimated at 33 billion rubles, Enel Russia said in a statement, the volumes are not announced.

Enel Russia has previously reported that Novatek supplies gas to Nevinnomysskaya TPP. This station consumed last year 2.2 billion cubic meters, follows from the company’s annual report.

Total Enel Russia with stations with a capacity of 9.4 gigawatts annually consumes about 7 billion cubic meters of gas.

Novatek accounts for 22 percent of total supplies of materials and raw materials, Rosneft (MCX: ROSN) also supplies gas to Enel station with a share of 27.1 percent, according to a report for the first half of the year. The company buys coal from Resourcenergougol, which takes 41.8 percent of the company’s supply.