NOVATEK Signs Strategic Partnership Agreement with Siemens

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During the Russian Energy Week, Chairman of the Management Board of PAO NOVATEK (“NOVATEK”) Leonid Mikhelson and President and Chief Executive Officer of Siemens AG (“Siemens”) Joe Kaeser signed a Strategic Partnership and Cooperation Agreement (“Agreement”), on Wednesday.

According to the Agreement, the Parties intend to strengthen and develop the strategic partnership and cooperation in integrated gas-to-power projects on a “turn-key” basis inclusive of LNG supply, downstream and power generation, large-, mid- and small-scale LNG liquefaction plants and other topics of mutual interest.

“NOVATEK plans to significantly increase production of natural gas and LNG, and we are interested in developing the whole natural gas value chain to enhance the competitive advantages of our scalable low-cost LNG projects.” – noted Leonid Mikhelson, NOVATEK’s Chairman of the Management Board, “We are satisfied with our experience of working with Siemens as a reliable contractor providing equipment to our Yamal LNG project, and we are going to expand this cooperation not only in Russian Federation, but also in other countries.”

Sea News, October 4

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