NOVATEK Signed Cooperation Agreement with Rostechnadzor
Moscow, 26 May 2021. PAO NOVATEK (“NOVATEK” and/or the “Company”) and the Federal Environmental, Industrial and Nuclear Supervision Service of Russia (Rostechnadzor) signed a Cooperation Agreement on industrial safety.
The Parties intend to exchange information in the field of industrial safety by using of state-of-the-art information systems, as well as cooperating on scientific and training programs and improving the regulatory framework.
“As the largest independent natural gas producer in Russia, industrial safety issues and implementing the most advanced technical solutions in these areas are of utmost importance to us,” noted Leonid Mikhelson, NOVATEK’s Chairman of the Management Board. “The Cooperation Agreement with Rostechnadzor will ensure the highest industrial safety at our current production facilities and facilitate the commissioning of new facilities, which is of great importance for the successful implementation of our ambitious plans to increase LNG production capacity in the Arctic region of Russia”.
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”.