NOVATEK signed MOU with Total and Siemens on cooperation in Vietnam
Moscow, 1 December 2017. PAO NOVATEK (“NOVATEK” and/or the “Company”) announced today that its subsidiary NOVATEK Gas and Power Asia Pte Ltd signed a Memorandum of Understanding (MOU) with Total Gas & Power Business Services S.A.S and Siemens Aktiengesellschaft.
The MOU defines the parties’ intent to pursue opportunities to collaborate on LNG sales and to develop the infrastructure for newly built gas fired generation plants in the Vietnamese market.
NOVATEK’s Chairman of the Management Board Leonid Mikhelson noted: “We are very interested in infrastructure projects that create effective marketing channels to deliver produced LNG to end-consumers. Together with our partners, we view the Vietnam as an attractive market considering its growing economy and increasing demand for LNG imports.”
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”.