NOVATEK and Fluxys apply for establishment of a joint venture in Rostock, Germany
PAO NOVATEK and Belgian gas transmission company Fluxys have applied for establishment of a joint venture in Rostock, Germany. According to the federal antimonopoly authority of Germany, the application was submitted on 7 September 2018.
The joint venture is to deal with the storage of liquefied natural gas (LNG).
PAO NOVATEK is one of the largest independent natural gas producers in Russia, and in 2017, entered the global gas 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. The Company’s upstream activities are concentrated mainly in the prolific Yamal-Nenets Autonomous Region, 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. The Company’s shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol “NVTK”.
Belgian gas transmission company Fluxys owns a network of transnational gas pipelines in Northwestern Europe with an annual throughput capacity of 82 billion cubic meters. The company also deals with natural gas and LNG transit and storage.
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