07 June 2019
Saint-Petersburg, 7 June 2019. As part of today’s Saint-Petersburg International Economic Forum, PAO NOVATEK (“NOVATEK” and/or the “Company”), Total Gas & Power Business Services S.A.S, Siemens Aktiengesellschaft and JSC Zarubezhneft (Zarubezhneft) signed a Memorandum of Understanding (MOU) on cooperation in Vietnam.
The MOU envisages developing of an integrated energy-generating project with the use of liquefied natural gas (LNG) within the Socialist Republic of Vietnam.
“The Vietnamese market is of great interest to us as the country’s economy and demand for electricity is forecasted to grow at a fast pace creating favorable conditions for gas-fired power generation and LNG supplies,” noted Leonid Mikhelson, NOVATEK’s Chairman of the Management Board. “Many years of experience of Zarubezhneft in Vietnam will contribute to the successful implementation of our strategic plans in this prospective market”.
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”.