Press Releases and Events
Russian Railways and NOVATEK discuss cooperation under the Strategic Partnership Agreement
Moscow, 1 September 2009. OAO NOVATEK (“NOVATEK”) announced today that OAO Russian Railways (Russian Railways) CEO Vladimir Yakunin and NOVATEK CEO Leonid Mikhelson held a working meeting to discuss the two companies’ cooperation, under their Strategic Partnership Agreement, relating to the transportation of liquid hydrocarbons from NOVATEK’s wholly-owned Purovsky Processing Plant (“Purovsky Plant”).
At the meeting, it was noted that during the 1H 2009, the mutual cooperation between the companies had a positive and beneficial influence on both their financial and operational results. In the 1H 2009, NOVATEK increased volumes shipped by Russian Railways from the Purovsky Plant by 29.5%, as compared to the same period in 2008, while payments for rail transportation increased by 18.8% compared to the 2008 period.
The two CEO’s noted that the preservation of the current terms of cooperation would allow the companies to continue the positive growth in production and rail transport of stable gas condensate and LPG in 2010.
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.