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NOVATEK signed MOU with Mitsubishi Corporation
Mark Gyetvay, Deputy Chairman of the Management Board
Alexander Nazarov, Head of IR
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16 December 2016
Tokyo, 16 December 2016. PAO NOVATEK (“NOVATEK”) signed a Memorandum of Understanding (MOU) with Mitsubishi Corporation.
According to the MOU, the parties intend to pursue strategic cooperation for implementing LNG projects in Russia and supplying LNG and liquid hydrocarbons.
The Chairman of NOVATEK’s Management Board Leonid Mikhelson noted: "We made an important step in developing our strategic partnership with Japanese companies. NOVATEK’s prolific hydrocarbon resource base, the successful implementation of the Yamal LNG project and our experience in navigating the Northern Sea Route create a great platform for developing mutually beneficial cooperation in LNG projects. Japan is presently the largest consumer of LNG and has significant experience in LNG technologies, marketing and logistics. By joining our efforts with Mitsubishi Corporation, we will implement our long-term projects and strengthen the economic links between Russia and Japan”.
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”.
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