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NOVATEK and SAIPEM sign a Strategic Partnership and Cooperation Agreement

Saint Petersburg, 17 June 2016. OAO NOVATEK and SAIPEM S.P.A. entered into a Strategic Partnership and Cooperation Agreement at the 20th Saint Petersburg International Economic Forum.

The document entails cooperation between the parties in implementing NOVATEK’s prospective LNG projects while ensuring maximum localization of technical solutions in Russia.

Chairman of the Management Board of NOVATEK, Leonid V. Mikhelson noted: “The agreements envision developing cooperation with SAIPEM in localizing manufacturing capabilities for LNG projects in Russia. NOVATEK has a high-quality resource base and we are considering opportunities to implement investment projects and improve technological and intellectual capacities together with our partners”.

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.