Novatek, Siemens Sign LNG Partnership

Shailaja A. Lakshmi
Wednesday, October 3, 2018

Russia's natural gas producer Novatek and German engineering giant Siemens have signed a strategic partnership agreement that covers cooperation in the liquefied natural gas (LNG) sector.

Novatek said in a press release that the agreement was signed by Novatek Chief Executive Leonid Mikhelson and his Siemens counterpart Joe Kaeser in Moscow.

According to the agreement, the parties intend to strengthen and develop the strategic partnership and cooperation in integrated gas-to-power projects on a “turn-key” basis inclusive of LNG supply, downstream and power generation, large-, mid- and small-scale LNG liquefaction plants and other topics of mutual interest.
 
“Novatek plans to significantly increase production of natural gas and LNG, and we are interested in developing the whole natural gas value chain to enhance the competitive advantages of our scalable low-cost LNG projects,” said Leonid Mikhelson, Novatek’s Chairman of the Management Board.

Leonid added: “We are satisfied with our experience of working with Siemens as a reliable contractor providing equipment to our Yamal LNG project, and we are going to expand this cooperation not only in Russian Federation, but also in other countries.”

According to Siemens AG CEO Joe Kaeser, the new deal significantly strengthens Siemens' cooperation with Novatek and gives an impetus for further cooperation.

The current strategic partnership agreement is the second between the two companies. The first deal was signed in 2013.

PAO Novatek is one of the largest independent natural gas producers in Russia, and in 2017, entered the global gas market by successfully launching the Yamal LNG project

Categories: Contracts LNG Energy

Related Stories

Pertamina Joins Petronas in Ultra-Deepwater Asset off Indonesia

Brownfield Output Decline Accelerates, says IEA

Norwegian Oil Investment Will Peak in '25

Cheniere, JERA Ink Long-Term LNG Sale and Purchase Agreement

Inpex Kicks Off FEED Work for Abadi LNG Scheme Offshore Indonesia

China Starts Production at Major Oil Field in Bohai Sea

Woodside Finds South Korean Partners to Advance LNG Value Chain

Santos and QatarEnergy Agree Mid-Term LNG Supply

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Woodside Agrees Long-Term LNG Supply with Petronas Unit

Current News

Sponsored: UAE Breaks Ground on World First Gigascale Renewable Energy Project

Pertamina Joins Petronas in Ultra-Deepwater Asset off Indonesia

Malaysia’s Petronas and Oman’s OQEP Strengthen Oil and Gas Ties

Southeast Asia’s 2GW Cross-Border Offshore Wind Scheme Targets 2034 Buildout

Pharos Energy Kicks Off Drilling Campaign Offshore Vietnam

Viridien to Shed More Light on Malaysia’s Offshore Oil and Gas Potential

US Pressure on India Could Propel Russia's Shadow Oil Exports

Energy Drilling’s EDrill-2 Rig Starts Ops for PTTEP in Gulf of Thailand

RINA Wins FEED Contract for Petronas’ Flagship CCS Project in Malaysia

ABL Secures Rig Moving Assignment with India's ONGC

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com