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NOVATEK Signed Framework Agreement with TechnipFMC, Linde & NIPIGAS

Source: www.gulfoilandgas.com 5/3/2017, Location: Asia

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NOVATEK (“NOVATEK”) signed a Framework Agreement on Strategic Cooperation (“Agreement”) with TechnipFMC, Linde AG and Research and Design Institute for Gas Processing (NIPIGAS).

The parties agreed upon the main conditions for designing and developing future LNG plants based on gravity-based structures for Arctic LNG 2 as well as subsequent NOVATEK’s LNG projects.

NOVATEK also signed the License Agreement with Linde AG to purchase Linde’s license on natural gas liquefaction technology for Arctic LNG 2 project.

The Chairman of NOVATEK’s Management Board Leonid Mikhelson noted: "At Yamal LNG we have gained unique competencies regarding LNG projects. Capitalizing on these competencies we have chosen a new technical design concept for our next LNG project. The framework agreements we have signed today allow us to significantly improve the economics on our next LNG projects, thus making our products competitive in any market.

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