NOVATEK

M&A Activity • Mar 29, 2017

National Storage Mechanism | Additional information

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RNS Number : 9177A

PAO Novatek

29 March 2017

FOR IMMEDIATE RELEASE                                                      

NOVATEK Signed Memorandum on Strategic Partnership with Atomenergomash

Arkhangelsk, 29 March 2017. As part of today's International Arctic Forum "Arctic: Territory of Dialogue", PAO NOVATEK ("NOVATEK") signed a Memorandum on Strategic Partnership and Cooperation ("Memorandum") with JSC Atomenergomash ("Atomenergomash").

According to the Memorandum, the parties intend to pursue strategic partnership and cooperation in producing equipment, pipelines and high-tonnage LNG modules, including the use of new domestic steel grades, in Russia.

The Chairman of NOVATEK's Management Board Leonid Mikhelson noted: "One of our strategic priorities is implementing LNG projects with the technological solutions maximizing our LNG production competitiveness. It is of great interest to us to advance the industrial potential and technological capabilities of Russian enterprises, and we are further developing our cooperation in localizing LNG technologies in Russia".

The CEO of Atomenergomash Andrey Nikipelov noted: "The signed agreement allows us to combine our expertise in implementing large-scale projects in the gas industry, providing a competitive  advantage to both companies as well as improving the energy security of Russia on the global scale as a whole".

Note

Atomenergomash is a Mechanical Engineering Division of the Rosatom State Corporation, and is one of the largest power engineering holdings in Russia, offering a full range of solutions in the design, manufacture, and supply of equipment for nuclear and thermal energy, gas and petrochemical industries. The company comprises about 30 major manufacturing, R&D, engineering enterprises in the territory of Russia and abroad. 

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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 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».

This information is provided by RNS

The company news service from the London Stock Exchange

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