NOVATEK signed Framework Agreement with Technip, Linde and NIPIGAS and License Agreement with Linde
PAO NOVATEK says it has signed a Framework Agreement on Strategic Cooperation (“Agreement”) with Technip, Linde AG and Research and Design Institute for Gas Processing (NIPIGAS).
The parties agreed upon the main conditions for designing and developing future LNG plants based on gravity-based structures for Arctic LNG 2 as well as subsequent NOVATEK’s LNG projects.
NOVATEK also signed the License Agreement with Linde AG to purchase Linde’s license on natural gas liquefaction technology for Arctic LNG 2 project.
The Chairman of NOVATEK’s Management Board Leonid Mikhelson noted: "At Yamal LNG we have gained unique competencies regarding LNG projects. Capitalizing on these competencies we have chosen a new technical design concept for our next LNG project. The framework agreements we have signed today allow us to significantly improve the economics on our next LNG projects, thus making our products competitive in any market.
PAO NOVATEK is one of the largest independent natural gas producers 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 natural gas production and approximately 16% 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».
