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NOVATEK signed MOU with Marubeni Corporation

Tokyo, 16 December 2016. Taking the opportunity of the meeting between the President of Russian Federation Vladimir Putin and the Prime Minister of Japan Shinzo Abe, PAO NOVATEK (“NOVATEK”) signed a Memorandum of Understanding (MOU) with Marubeni Corporation, a Japanese trading and investment conglomerate.

According to the MOU, the parties intend to pursue opportunities of strategic cooperation in the upstream and midstream NOVATEK Arctic LNG 2 project in Russia as well as the supply of LNG, shipping arrangements, gas related infrastructure projects and transactions of other liquid hydrocarbons.

The Chairman of NOVATEK’s Management Board Leonid Mikhelson noted: "We see strong  interest of Japanese companies wanting to participate in NOVATEK’s projects. Our joint implementation of projects aimed at monetizing the prolific hydrocarbon resources of the Russian Arctic will ensure their economic efficiency and competitive advantages on the global LNG market. We are sure that cooperation with Marubeni Corporation along the whole value chain from production to marketing of LNG will be mutually beneficial for both our companies.”

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.