NOVATEK signed Strategic Partnership Agreement with Siemens
Today, during the Russian Energy Week, Chairman of the Management Board of PAO NOVATEKLeonid Mikhelson and President and Chief Executive Officer of Siemens AG Joe Kaeser signed a Strategic Partnership and Cooperation Agreement, NOVATEK says in a press release.
According to the Agreement, the Parties intend to strengthen and develop the strategic partnership and cooperation in integrated gas-to-power projects on a “turn-key” basis inclusive of LNG supply, downstream and power generation, large-, mid- and small-scale LNG liquefaction plants and other topics of mutual interest.
“NOVATEK plans to significantly increase production of natural gas and LNG, and we are interested in developing the whole natural gas value chain to enhance the competitive advantages of our scalable low-cost LNG projects.” – noted Leonid Mikhelson, NOVATEK’s Chairman of the Management Board, “We are satisfied with our experience of working with Siemens as a reliable contractor providing equipment to our Yamal LNG project, and we are going to expand this cooperation not only in Russian Federation, but also in other countries.”
PAO NOVATEK is one of the largest independent natural gas producers 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”.