Gazprom and NOVATEK discuss development of Yamal LNG
OAO Novatek
GAZPROM AND NOVATEK DISCUSS DEVELOPMENT OF YAMAL LNG
OAO NOVATEK (“NOVATEK”) announced today that OAO Gazprom CEO Alexei
Miller and NOVATEK CEO Leonid Mikhelson held a working meeting to
discuss the formation of a general plan for the development of
hydrocarbon resources in the Yamal Peninsula.
The two sides discussed the development plan for NOVATEK’s subsidiary,
Yamal LNG, as part of the general plan to create LNG production capacity
at the Yamal Peninsula. The resource base of the Tambeyskiy group of
fields, which NOVATEK and Gazprom hold the licenses to, located in the
Yamal Peninsula will provide the basis for the development of LNG
facilities.
Summing up the results of the meeting, both sides noted that to
effectively develop Yamal LNG it would be prudent to begin discussions
with potential partners in the project.
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OAO NOVATEK is Russia’s largest independent gas producer and the
second-largest natural gas producer 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 Region, which
is the world's largest natural gas producing area and accounts for over
90% of Russia's natural gas production and 20% of the world’s gas
production. NOVATEK is an open joint stock company established under the
laws of the Russian Federation. The Company’s shares are listed on the
Russian Trading System (RTS) and the London Stock Exchange (LSE) under
the ticker symbol ‘NVTK’ and on the NASDAQ PORTAL System as Rule 144A
GDR under the ticker symbol “NVATY”.
