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Contract with Mosenergo extended to 2019
28 April 2015
Moscow, 28 April 2015. OAO NOVATEK announced today that the natural gas supply contract with Mosenergo was extended for a period of four (4) years from 1 January 2016 to 31 December 2019 with the annual supply volumes of nine (9) billion cubic meters of natural gas.
The natural gas supply contract between NOVATEK and Mosenergo was signed in December 2012 envisaging natural gas supplies to the power generation facilities of Mosenergo for a three-year period from 1 January 2013 to 31 December 2015.
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”.
Mosenergo is the largest regional power generation company in Russia covering approximately 60% of the electricity consumption of the Moscow region and 70% of the Moscow heating needs. The controlling shareholder of Mosenergo is Gazprom energoholding, a 100% subsidiary of Gazprom.
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