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NOVATEK and CNPC sign LNG agreement

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Hydrocarbon Engineering,

PAO NOVATEK has signed a strategic cooperation agreement with the Chinese National Petroleum Company (CNPC) to confirm the parties’ intentions to cooperate in implementing the Arctic LNG 2 project.

The agreement also confirmed their plans to collaborate in different segments of the LNG and natural gas markets, including LNG trading and gas infrastructure development.

The Chairman of NOVATEK’s Management Board, Leonid Mikhelson, noted: "Our companies already have a history of effective cooperation, including the successful implementation of the Yamal LNG project. We believe our strategic cooperation agreement will further enhance our mutual relationship as well as open up new opportunities for both companies, utilizing our experience in implementing LNG projects combined with the enormous opportunities in the Chinese market, one of the most perspective gas markets globally.”

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