NOVATEK, Mitsui O.S.K. Lines and JBIC signed Cooperation Agreement
Today, PAO NOVATEK, Mitsui O.S.K. Lines, Ltd. (MOL) and Japan Bank for International Cooperation (JBIC) signed a Cooperation Agreement confirming the parties’ intentions to implement projects for the construction of a marine LNG transshipment complexes in the territory of Kamchatka and Murmansk region, including possible acquisition of participation interest in Projects and potential financing of Projects.
“We have already started successful cooperation with Japanese companies in large LNG projects, including Yamal LNG and Arctic LNG 2, and, accordingly, we see great potential in expanding further this mutually beneficial cooperation,” noted Leonid Mikhelson, NOVATEK’s Chairman of the Management Board. “The construction of the Kamchatka and Murmansk transshipment complexes will help to optimize logistics and maximize the efficiency of LNG deliveries from Yamal and Gydan to LNG key markets of the Asia-Pacific region, including Japan, the largest global LNG consumer. We think we will reach final arrangements for these projects by year end”.
PAO NOVATEK is the largest independent natural gas producer 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”.