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NOVATEK Signed Strategic Cooperation Agreement with CNPC
Mark Gyetvay, Deputy Chairman of the Management Board
Alexander Nazarov, Head of IR
+7 (495) 730-6013
Yury Melihov, Press-secretary
+7 (495) 721-2207
01 November 2017
Moscow, 1 November 2017. PAO NOVATEK (“NOVATEK” and/or the “Company”) signed today a Strategic Cooperation Agreement with the Chinese National Petroleum Company (CNPC).
The strategic cooperation agreement confirms the parties’ intentions to cooperate in implementing the Arctic LNG 2 project, as well as collaborating in different segments of the LNG and natural gas markets, including LNG trading and gas infrastructure development.
The Chairman of NOVATEK’s Management Board Leonid Mikhelson noted: "Our companies already have a history of effective cooperation, including the successful implementation of the Yamal LNG project. We believe our strategic cooperation agreement will further enhance our mutual relationship as well as open up new opportunities for both companies, utilizing our experience in implementing LNG projects combined with the enormous opportunities in the Chinese market, one of the most perspective gas markets globally.”
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».
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