NOVATEK and Rosatom join hands for shipping on the NSR
NOVATEK and the State Corporation Rosatom signed today a general cooperation agreement in Moscow, NOVATEK news release said.
The document has sealed the two parties agreement to develop a mutually beneficial partnership by coordinating investment and innovation activity in the following areas: implementation of safe and efficient movement in the Arctic, the White Sea and the Baltic Sea, coordination of related investment projects, development of new technologies, the development of competitive products, including imported ones, to improve exploration, production, transportation, storage and processing of natural gas and gas condensate.
NOVATEK and the State Corporation Rosatom emphasize that they have mutual interest and are set to develop cooperation in the smooth and environmentally friendly icebreaking assistance to shipping along the Northern Sea Route, and to / from the port of Sabetta, transportation of construction materials and LNG.
The agreement provides for long-term contracts for icebreaking service on the Northern Sea Route, for at least 15 years.
NOVATEK, founded in 1994, is currently the largest independent gas producer and the second-largest natural gas producer in Russia. The Company is focused on prospecting, production and processing of natural gas and liquid hydrocarbons. As of late 2009, the Company had 6.86bn oil equivalent barrels of proved reserves. Novatek assets are located in the Yamal-Nenets Region, the world's largest natural gas producing area and accounts for over 90% of Russia's natural gas production and 20% of the world’s gas production.