NOVATEK Established Representative Office in Vietnam
Hanoi, 10 August 2021. PAO NOVATEK (“NOVATEK” and/or the “Company”) announced today it has established a representative office in Hanoi, the Socialist Republic of Vietnam (the “Representative Office”).
The Representative Office will facilitate NOVATEK's expansion into the global gas markets and provide continuous support for the Company's prospective energy projects in Vietnam. The main tasks of the Representative Office will be to interact with partners, state-owned and private companies of the Socialist Republic of Vietnam to define and develop new projects to supply LNG from NOVATEK’s portfolio to the Vietnamese market.
“Vietnam offers NOVATEK the prospects of developing gas-related energy projects in the dynamically growing Asian Pacific region” noted Leonid V. Mikhelson, Chairman of the Management Board, “and, is of strategic importance for us in implementing our long-term aim of delivering affordable and secure natural gas for many decades in a sustainable manner.”
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.