Press Releases and Events
NOVATEK SIGNS A COOPERATION MEMORANDUM FOR THE DEVELOPMENT OF A PETROCHEMICAL COMPLEX IN THE OMSK REGION
Chairman of the management Board of OAO NOVATEK, Leonid Mikhelson, together with Leonid Polegeajev, Governor of the Omsk region, and Mikhail Sutiaguinsky, General Director of the «Titan, Group of Companies» (Titan), signed a cooperation Memorandum (the «Memorandum») for the development of a petrochemical plant (the «Project») in the Omsk region.
The Memorandum provides for the development of a modern petrochemical facility and the expansion of Titan’s existing capacity as well as improvements to the region’s environment.
The petrochemical facility, to be developed by NOVATEK and Titan, will produce polypropylene, butadiene and synthetic rubbers through deep processing of liquefied petroleum gas. The Omsk regional government will provide support for the Project.
The Project will also contribute to the economic and social development of the region through the creation of jobs and environmental improvements. The regional government is prepared to review proposals, developed under the Memorandum, and update its regional development plan accordingly.
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.