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NOVATEK and Linde sign a Strategic Partnership and Cooperation Agreement

Saint Petersburg, 16 June 2016. OAO NOVATEK and Linde AG entered into a Strategic Partnership and Cooperation Agreement at the 20th Saint Petersburg International Economic Forum.

The document facilitates the cooperation in localizing the construction of process modules and respective sourcing of equipment in Russia and the development of competitive solutions for NOVATEK’s LNG projects.  

Chairman of the Management Board of NOVATEK, Leonid V. Mikhelson noted: “The signed agreement will create a favorable environment for consolidating cutting-edge LNG technologies in Russia, give impetus to setting up new and loading the existing domestic industrial capacities and help optimize capital expenditures on LNG 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.