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Russian Gas Producer Novatek to Create Joint Venture with Rosatom
Friday 14 September 2018

14 September 2018 - Russian natural gas producer PAO Novatek has signed an agreement with Rosatom to establish a joint venture, the company said.
 
According to the agreement, the parties intend to establish a long-term partnership to jointly develop, finance and implement a project to create a LNG-fueled icebreaker fleet to support Novatek's Arctic projects in frozen areas along the Northern Sea Route as well as building port fleet and supply vessels.
 
PAO 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 mainly 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 15% of the world's gas production.

Novatek is a public joint stock company established under the laws of the Russian Federation.
Details
Date Published: 14/09/2018
Target: Long-term partnership to create an LNG-fueled icebreaker fleet
Country: Russia
Sector: Petroleum/Natural Gas/Coal
Type: JV
Financing:
Status: Agreed
Vendor:
Buyer: PAO Novatek, Rosatom
Comment:
Terms of the deal were not disclosed

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