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PAO Novatek (NVTK)

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Wednesday 22 May, 2019

PAO Novatek

NOVATEK MoU with Ninh Thuan Vietnam Province

RNS Number : 8965Z
PAO Novatek
22 May 2019
 

 

 

FOR IMMEDIATE RELEASE

 

NOVATEK Signed MoU with Ninh Thuan Province in Vietnam

 

 

Moscow, 22 May 2019. PAO NOVATEK ("NOVATEK" and/or the "Company") announced today that the Company and the Ninh Thuan Provincial People's Committee signed a Memorandum of Understanding ("MOU") to develop an integrated energy-generating project with the use of liquefied natural gas (LNG) within the Socialist Republic of Vietnam. The MOU was signed in the presence of Russian Prime Minister, Dmitry Medvedev, and Prime Minister of the Government of Socialist Republic of Vietnam, Nguyen Xuan Phuc.

 

The energy-generating project provides for the delivery of LNG utilizing existing infrastructure as well as developing new infrastructure, including the construction of an LNG regasification terminal and new gas-fired power plants within Vietnam. Partners of the proposed project include Siemens Aktiengesellschaft, Total Gas & Power Business Services S.A.S and Vietnam A&A Technology Investment Co. Ltd.

 

"The strong economic growth within Vietnam generates additional demand for energy, which can be sustainably met with the development of an integrated gas generation project. The building of gas-fired power generation increases the demand for us to provide competitively priced LNG supplies to the country. This project could be realized in a relatively short period of time with the support of the Ninh Thuan province," noted NOVATEK's Chairman of Management Board Leonid Mikhelson.

 

 

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For further information, please visit www.novatek.ru or contact:

 

Press Service
+7 (495) 721 2207
[email protected]

Investor Relations
+7 (495) 730 6013
[email protected]

***

PAO NOVATEK is the largest independent natural gas producer in Russia, and in 2017, entered the global gas market by successfully launching the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company's upstream activities are concentrated mainly in the prolific Yamal-Nenets Autonomous Region, which is the world's largest natural gas producing area and accounts for approximately 80% of Russia's natural gas production and approximately 15% of the world's gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation. The Company's shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol «NVTK».


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