NOVATEK Signed Cooperation Agreement with Leningrad Region
Saint-Petersburg, 4 June 2021. As part of today’s Saint-Petersburg International Economic Forum, the Chairman of the Management Board of PAO NOVATEK (“NOVATEK”), Leonid Mikhelson, and the Governor of the Leningrad Region, Alexander Drozdenko, signed a Cooperation Agreement (“Agreement”) covering social and economic development in the Leningrad Region.
The Agreement provides for support of open-air sports in the Leningrad Region, as well as the development of children's soccer, cultural and creative events and improving park areas. The Agreement also pays particular attention to the support of children's medical institutions, and the development of rehabilitation programs for children with disabilities.
“Our Cryogas-Vysotsk LNG plant is located in the Leningrad Region, as well as our Ust-Luga Gas Condensate Fractionation and Transshipment Complex,” noted Leonid Mikhelson, NOVATEK’s Chairman of the Management Board. “Our long-term sustainable development strategy provides for investing not only in production assets and creating jobs, but also in the development of local communities and supporting culture, medical care and sports activities. We have a long history of creating a positive impact in the regions of our business operations, and this Cooperation Agreement further supports our social initiatives of being a responsible business partner.”
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.