NOVATEK Signed Cooperation Agreement with the Government of the Kamchatka Territory and Rosprirodnadzor
Moscow, 28 January 2021. PAO NOVATEK (“NOVATEK” and/or the “Company”), the Government of the Kamchatka Territory and the Federal Service for Supervision of Natural Resources (Rosprirodnadzor) signed a Cooperation Agreement on the environmental monitoring of the water area adjacent to the Kamchatka Peninsula.
According to the Agreement, the Parties intend to develop and implement a comprehensive scientific program to study the water area adjacent to the Kamchatka Peninsula in order to minimize any negative technogenic impact. The Agreement provides for creating an environmental monitoring system including observations and laboratory tests of environmental components in order to prevent and minimize environmental threats.
“Environmental protection is one of the most important aspects of our sustainable development strategy and we consider the impacts of our projects on the environment long before the start of construction. We want to ensure that the nature surrounding the regions where our Company’s facilities are located are well protected and the risk to the environment is mitigated through science-based solutions,” noted Leonid Mikhelson, NOVATEK’s Chairman of the Management Board. “The implementation of effective environmental safety measures is only possible with the active participation of an environmentally responsible business community, and our cooperation with the Government of the Kamchatka Territory and Rosprirodnadzor will make a significant contribution to the preservation of the unique nature of Kamchatka”.
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. Upstream activities of the Company’s subsidiaries and joint ventures 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.