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NOVATEK AND GAZPROM SIGN COOPERATION AGREEMENT
07 July 2005
Moscow, 6 July 2005 — OAO NOVATEK (RTS: NVTK) (the «Company») announced today that the Company has signed a Partnership Agreement with OAO Gazprom. The agreement was signed by Leonid Mikhelson, Chairman of the Management Board of OAO NOVATEK and Alexey Miller, Chairman of the Management Board of OAO Gazprom at the head office of Gazprom. The agreement relates to common interests of the parties in such areas as transportation, processing and sale of natural gas and chemical industry products derived from gas. The agreement also refers to the mutual benefits which can be derived from the
According to Alexey Miller, «the joint efforts of the two companies will promote the formation of a developed competitive gas market in our country».
Leonid Mikhelson stressed that NOVATEK is committed to participating in the implementation of the ‘General Scheme of the Gas Industry Development’ which is currently being developed».
The Agreement set out the key areas of
The parties agreed on the possible participation of NOVATEK in the expansion, reconstruction and modernization of the Unified Gas Supply System in accordance with the ‘General Scheme of the Gas Industry Development’ for the period up to 2030.
In the agreement the Companies shared their common opinion that a single channel should continue to be used for the export of gas produced in Russia. The document provides for the possibility of a sale to Gazprom of part of natural gas volumes produced by NOVATEK on mutually beneficial conditions.
This Agreement will serve as the basis for the development of
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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