NOVATEK Signed Memorandum of Understanding Regarding Special Investment Contract with the Ministry of Industry and Trade and the Murmansk Region

June 1, 2017

Saint-Petersburg, 1 June 2017. As part of today’s 21st Saint Petersburg International Economic Forum, PAO NOVATEK (“NOVATEK”) signed a Memorandum of Understanding (“Memorandum”) regarding a special investment contract with the Ministry of industry and trade and the Murmansk Region Government.

According to the Memorandum, the parties intend to sign a tripartite special investment contract on creating a center for the construction of large-scale offshore structures in Belokamenka, located in Murmansk region.

The Chairman of NOVATEK’s Management Board Leonid Mikhelson noted: "To efficiently develop our vast resource base in the Far North, decrease construction cost and increase the competitiveness of our future LNG-project, it is very important to create a center to construct large-scale offshore structures in Russia. With the construction of the Kola Yard we plan to meet the challenge of maximizing the localization of production of LNG-plants based on the gravity-based structures, readymade for producing LNG”.

 

 

 

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