OAO NOVATEK and Linde AG entered into a Strategic Partnership and Cooperation Agreement at the 20th Saint Petersburg International Economic Forum, NOVATEK says in a press release.
The document facilitates the cooperation in localizing the construction of process modules and respective sourcing of equipment in Russia and the development of competitive solutions for NOVATEK’s LNG projects.
Chairman of the Management Board of NOVATEK, Leonid V. Mikhelson noted: “The signed agreement will create a favorable environment for consolidating cutting-edge LNG technologies in Russia, give impetus to setting up new and loading the existing domestic industrial capacities and help optimize capital expenditures on LNG projects”.
OAO NOVATEK is Russia’s largest independent gas producer and the second-largest natural gas producer in Russia. 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 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 gas production and approximately 16% of the world’s gas production. NOVATEK is an open joint stock company established under the laws of the Russian Federation.