Small-Scale LNG Cooperation Agreements with Russia's Regions Signed by NOVATEK

Source: 6/17/2022, Location: Asia

As part of St. Petersburg International Economic Forum, PAO NOVATEK ("NOVATEK") signed small-scale LNG cooperation agreements with the Governments of the Moscow and Samara Regions.

The parties are looking to expand the use of LNG as motor fuel and for gas supply to off-grid customers, including the construction of small-scale LNG plants and relevant sales infrastructure.

"The use of LNG in transportation and for gas supply will improve the economic efficiency, reduce environmental footprint and enhance security of power supply, as well as make a positive contribution to social and economic situation in the regions where we operate", noted Leonid Mikhelson, NOVATEK's Chairman of the Management Board. "Development of the domestic LNG market is a prospective business line for the Company, that will help effectively monetize our abundant natural gas reserves as well as pioneer Russian technologies and equipment."

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