NOVATEK Signed MOU with Mitsui

Taking the opportunity of the meeting between the President of Russian Federation Vladimir Putin and the Prime Minister of Japan Shinzo Abe, PAO NOVATEK (“NOVATEK”) signed a Memorandum of Understanding (MOU) with Mitsui.

According to the MOU, the parties intend to pursue strategic cooperation in the upstream and liquefaction sectors in Russia, LNG and liquid hydrocarbons supply, equipment and technology supply as well as joint development of LNG markets.

The Chairman of NOVATEK’s Management Board Leonid Mikhelson noted: "We see the enormous potential of mutually beneficial cooperation with Japanese companies in implementing LNG projects by combining our expertise to ensure the most cost competitive LNG production as well as joint developing of LNG markets. I am confident the cumulative potential of our companies will allow us to increase the efficiency of our projects by utilizing the prolific hydrocarbon resource base of NOVATEK in the Arctic”.