16 Dec 2021 09:25
For immediate release
NOVATEK Signed Cooperation Agreement with Voronezh Region
Moscow, 16 December 2021. Leonid Mikhelson, Chairman of the Management Board of PAO NOVATEK ("NOVATEK" and/or the "Company"), and Voronezh Region Governor Alexander Gusev today signed a Cooperation Development Agreement (the "Agreement") to increase the participation of companies from the region in NOVATEK's projects. The Agreement envisages broader involvement of companies from Voronezh Region in engineering and supply of equipment for NOVATEK's LNG projects.
"Manufacturers from Voronezh Region have successfully contributed to many of the Company's major projects located within the reach of the Unified Gas Supply System, with their equipment and materials," noted Leonid Mikhelson, Chairman of NOVATEK's Management Board. "They have a big potential, and this agreement will enable enhancing their involvement in our LNG projects. Cooperation under our ongoing and future projects will start at early stages, including R&D activities, to promote larger import substitution in high-tech LNG equipment as well as to foster the region's economic development."
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NOVATEK is Russia's largest independent natural gas producer, and in 2017 the Company entered the global LNG market by successfully launching the Yamal LNG project. Founded in 1994, the Company is engaged in exploration, production, processing and marketing of natural gas and liquid hydrocarbons. Upstream activities of the Company's subsidiaries and affiliates are concentrated mainly in the prolific Yamal-Nenets Autonomous Area, which is the world's largest natural gas producing area and accounts for approximately 80% of Russia's natural gas production and approximately 15% of the world's gas production. NOVATEK is a public joint-stock company established under the laws of the Russian Federation. The Company's shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol "NVTK".