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Thursday 06 June, 2019

PAO Novatek

NOVATEK and Severgroup - Memorandum on Partnership

RNS Number : 4184B
PAO Novatek
06 June 2019
 

 

 

FOR IMMEDIATE RELEASE

 

NOVATEK and Severgroup Sign Memorandum on Strategic Partnership and Cooperation

 

Saint-Petersburg, 6 June 2019. As part of today's Saint-Petersburg International Economic Forum, PAO NOVATEK ("NOVATEK" and/or the "Company") and OOO Severgroup ("Severgroup") signed a Memorandum on Strategic Partnership and Cooperation ("Memorandum").

 

According to the Memorandum, the parties intend to cooperate on supplying materials and equipment for NOVATEK's projects, including equipment for gas liquefaction trains. The document contains the basic principles of long-term cooperation, including the reservation of production capacities to ensure timely supplies.

 

"Our development strategy involves implementing large-scale LNG projects in the Arctic region with the participation of Russian equipment and materials manufacturers," noted Leonid Mikhelson, NOVATEK's Chairman of the Management Board. "The Memorandum expands our mutually beneficial cooperation with Severgroup, contributing to the development of technologies for the LNG industry in Russia".

  

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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]

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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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