NOVATEK signed MOU with Total and Siemens on cooperation in Vietnam

NOVATEK signed MOU with Total and Siemens on cooperation in Vietnam

The MOU defines the parties’ intent to pursue opportunities to collaborate on LNG sales and to develop the infrastructure for newly built gas fired generation plants in the Vietnamese market.

NOVATEK’s Chairman of the Management Board Leonid Mikhelson noted: “We are very interested in infrastructure projects that create effective marketing channels to deliver produced LNG to end-consumers. Together with our partners, we view the Vietnam as an attractive market considering its growing economy and increasing demand for LNG imports.”

NOVATEK is one of the largest independent natural gas producers in Russia. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company’s upstream activities are concentrated in the prolific Yamal-Nenets Autonomous Region, which is the world’s largest natural gas producing area and accounts for approximately 80% of Russia’s natural gas production and approximately 16% 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».