Press Releases and Events
NOVATEK and Sberbank Sign a Strategic Cooperation Agreement
Saint Petersburg, 16 June 2016. OAO NOVATEK (“NOVATEK” and/or the “Company”) and PAO Sberbank entered into a Strategic Cooperation Agreement for the period until 2021 at the 20th Saint Petersburg International Economic Forum. Leonid Mikhelson, Chairman of the Management Board of NOVATEK, and Herman Gref, CEO and Chairman of the Executive Board of Sberbank, signed the document.
The agreement expands cooperation between NOVATEK and Sberbank in banking services, treasury operations, financing transactions, arranging transactions in the equity capital market, as well as in the provision of financial and consulting services. The Strategic Cooperation Agreement also includes possibilities for the companies to share their HR expertise.
The parties noted that the agreement signed brings the cooperation between Sberbank and NOVATEK to a new level and reinforces the platform for implementing current and new large investment projects.
PAO NOVATEK is one of the largest independent natural gas producers 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 Area, 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.