Saint-Petersburg, 7 June 2019. As part of today’s Saint-Petersburg International Economic Forum, PAO NOVATEK (“NOVATEK” and/or the “Company”), Total Gas & Power Business Services S.A.S, Siemens Aktiengesellschaft and JSC Zarubezhneft (Zarubezhneft) signed a Memorandum of Understanding (MOU) on cooperation in Vietnam.
The MOU envisages developing of an integrated energy-generating project with the use of liquefied natural gas (LNG) within the Socialist Republic of Vietnam.
“The Vietnamese market is of great interest to us as the country’s economy and demand for electricity is forecasted to grow at a fast pace creating favorable conditions for gas-fired power generation and LNG supplies,” noted Leonid Mikhelson, NOVATEK’s Chairman of the Management Board. “Many years of experience of Zarubezhneft in Vietnam will contribute to the successful implementation of our strategic plans in this prospective market”.