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NOVATEK and JBIC sign a Memorandum of Understanding for Strategic Partnership

Vladivostok, September 05, 2016. OAO NOVATEK (NOVATEK or the Company) and the Japan Bank for International Cooperation (JBIC) signed the Memorandum of Understanding (MOU) for Strategic Partnership at the Eastern Economic Forum.

The MOU confirms the parties’ intentions to cooperate in the implementation of NOVATEK’s LNG projects, including financing and investment.

“The signing the MOU with JBIC is an important step in developing our strategic partnership with Japanese companies. Our access to high quality resources allows us to implement competitive LNG projects, which are attractive to foreign investors and beneficial to our respective countries,” Leonid Mikhelson, NOVATEK Chairman of the Management Board, noted.

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.