NOVATEK signs butane gas supply agreement with Nizhnekamskneftekhim
Moscow, 22 April 2010. OAO NOVATEK (“NOVATEK” and/or the “Company”) today announced that the Company’s First Deputy CEO Mikhail Popov and OAO Nizhnekamskneftekhim General Director Vladimir Busygin have signed a long-term agreement whereby NOVATEK will supply commercial butane, produced at the Purovsky Gas Condensate Processing Plant (Purovsky Plant), to OAO Nizhnekamskneftekhim.
The agreement is valid until the end of 2012 and provides for delivery of not less than 85 thousand tons of commercial butane per annum, thus ensuring stable sales for NOVATEK and a reliable supply of raw material for OAO Nizhnekamskneftekhim, one of the largest petrochemical companies in Russia.
NOVATEK’s Purovsky Plant is one of the main producers of liquefied petroleum gases (LPG) in Russia and in 2009 the Company sold 749 thousand tons of LPG. Commercial butane is one of several LPGs produced by the Purovsky Plant, and is one of the most widely used raw materials in the petrochemical industry.
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.