NOVATEK

M&A Activity • Dec 16, 2016

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RNS Number : 0504S

PAO Novatek

16 December 2016

FOR IMMEDIATE RELEASE                                                      

NOVATEK Signed MOU with Mitsubishi Corporation

Tokyo, 16 December 2016. PAO NOVATEK ("NOVATEK") signed a Memorandum of Understanding (MOU) with Mitsubishi Corporation. 

According to the MOU, the parties intend to pursue strategic cooperation for implementing LNG projects in Russia and supplying LNG and liquid hydrocarbons.

The Chairman of NOVATEK's Management Board Leonid Mikhelson noted: "We made an important step in developing our strategic partnership with Japanese companies. NOVATEK's prolific hydrocarbon resource base, the successful implementation of the Yamal LNG project and our experience in navigating the Northern Sea Route create a great platform for developing mutually beneficial cooperation in LNG projects. Japan is presently the largest consumer of LNG and has significant experience in LNG technologies, marketing and logistics.  By joining our efforts with Mitsubishi Corporation, we will implement our long-term projects and strengthen the economic links between Russia and Japan".

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For further information, please visit www.novatek.ru or contact:

Press Service                                                              Investor Relations

+7 (495) 721 2207                                                     +7 (495) 730 6013

press@novatek.ru                                                       ir@novatek.ru

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PAO 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 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».

This information is provided by RNS

The company news service from the London Stock Exchange

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