Arkhangelsk, 29 March 2017. As part of today’s International Arctic Forum “Arctic: Territory of Dialogue”, PAO NOVATEK (“NOVATEK”) signed a Memorandum on Strategic Partnership and Cooperation (“Memorandum”) with JSC Atomenergomash (“Atomenergomash”).

According to the Memorandum, the parties intend to pursue strategic partnership and cooperation in producing equipment, pipelines and high-tonnage LNG modules, including the use of new domestic steel grades, in Russia.

The Chairman of NOVATEK’s Management Board Leonid Mikhelson noted: “One of our strategic priorities is implementing LNG projects with the technological solutions maximizing our LNG production competitiveness. It is of great interest to us to advance the industrial potential and technological capabilities of Russian enterprises, and we are further developing our cooperation in localizing LNG technologies in Russia”.

The CEO of Atomenergomash Andrey Nikipelov noted: “The signed agreement allows us to combine our expertise in implementing large-scale projects in the gas industry, providing a competitive advantage to both companies as well as improving the energy security of Russia on the global scale as a whole”.

Note
Atomenergomash is a Mechanical Engineering Division of the Rosatom State Corporation, and is one of the largest power engineering holdings in Russia, offering a full range of solutions in the design, manufacture, and supply of equipment for nuclear and thermal energy, gas and petrochemical industries. The company comprises about 30 major manufacturing, R&D, engineering enterprises in the territory of Russia and abroad.