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NOVATEK signed MOU with Marubeni and MOL
28 November 2017
Moscow, 28 November 2017. PAO NOVATEK (“NOVATEK” and/or the “Company”) today signed a trilateral Memorandum of Understanding (MOU) with Marubeni Corporation and Mitsui O.S.K. Lines, Ltd. (MOL).
The MOU defines the parties’ intentions and includes a specific action plan to explore the opportunities to establish an LNG transshipment and marketing complex in the Kamchatka Region, including investments in this infrastructure project.
The Chairman of NOVATEK’s Management Board Leonid Mikhelson noted: "One of the main advantages of creating an LNG transshipment terminal at Kamchatka is its close proximity to consumers and the opportunity to ensure flexible sales terms for the key consuming markets of the Asian-Pacific region. The MOU demonstrates a high market interest and relevancy for this type of project to address market needs”.
PAO NOVATEK is the largest independent natural gas producer in Russia, and in 2017, entered the global LNG 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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