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NOVATEK and Russian Railways agree to expand partnership
24 October 2011
Moscow, 24 October 2011. OAO NOVATEK (“NOVATEK” and/or the “Company”) announced today that the President of OAO Russian Railways (RZD) Vladimir Yakunin and the Chairman of the Management Board of NOVATEK, Leonid Mikhelson, held a working meeting to discuss further cooperation between the two companies and signed a Cooperation Protocol (the “Protocol”) aimed at strengthening the partnership. The Protocol coincides with the planned expansion of NOVATEK’s Purovsky Plant and the increase in the volume of products to be transported via the RZD railway system. According to the Protocol, the two companies will work together to ensure that sufficient infrastructure and railway capacity are available to provide guaranteed transportation for the Company’s products.
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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