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NOVATEK and Severgroup Sign Memorandum on Strategic Partnership and Cooperation

Saint-Petersburg, 6 June 2019. As part of today’s Saint-Petersburg International Economic Forum, PAO NOVATEK (“NOVATEK” and/or the “Company”) and OOO Severgroup (“Severgroup”) signed a Memorandum on Strategic Partnership and Cooperation (“Memorandum”).

According to the Memorandum, the parties intend to cooperate on supplying materials and equipment for NOVATEK’s projects, including equipment for gas liquefaction trains. The document contains the basic principles of long-term cooperation, including the reservation of production capacities to ensure timely supplies.

“Our development strategy involves implementing large-scale LNG projects in the Arctic region with the participation of Russian equipment and materials manufacturers,” noted Leonid Mikhelson, NOVATEK’s Chairman of the Management Board. “The Memorandum expands our mutually beneficial cooperation with Severgroup, contributing to the development of technologies for the LNG industry in Russia”.

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.