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NOVATEK Joins the Society for Gas as a Marine Fuel and the SEA\LNG Association
Mark Gyetvay, Deputy Chairman of the Management Board
Alexander Nazarov, Head of IR
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14 July 2017
Moscow, 14 July 2017. Novatek Gas & Power, a wholly owned trading subsidiary of NOVATEK (“NOVATEK” and/or the “Company”) has joined the Society for Gas as a Marine Fuel and the SEA\LNG Association to help promote liquefied natural gas (LNG) as a marine fuel. Both organizations are active in promoting the increased use of cleaner burning LNG for marine transportation.
The Chairman of NOVATEK’s Management Board Leonid Mikhelson noted: "The recent adoption of stricter emission standards for marine transportation by 2020 is consistent with our strategy for entering into new prospective LNG market segments including bunkering. Global environmental requirements create the basis for transiting global fleet toward cleaner types of fuels. We are confident that more shipping companies will opt for LNG to meet these stricter requirements, and we are ready to facilitate the LNG bunkering market and infrastructure development”.
PAO NOVATEK is one of the largest independent natural gas producers in Russia. 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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