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NOVATEK & Severgroup Sign Memorandum on Strategic Partnership and Cooperation

Source: www.gulfoilandgas.com 6/6/2019, Location: Asia

As part of today’s Saint-Petersburg International Economic Forum, PAO NOVATEK (“Severgroup”) signed a Memorandum on Strategic Partnership and Cooperation (“Memorandum”).

According to the Memorandum, the parties intend to cooperate on supplying materials and equipment for NOVATEK’s projects, including equipment for gas liquefaction trains. The document contains the basic principles of long-term cooperation, including the reservation of production capacities to ensure timely supplies.

“Our development strategy involves implementing large-scale LNG projects in the Arctic region with the participation of Russian equipment and materials manufacturers,” noted Leonid Mikhelson, NOVATEK’s Chairman of the Management Board. “The Memorandum expands our mutually beneficial cooperation with Severgroup, contributing to the development of technologies for the LNG industry in Russia”.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

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