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Novatek and Gazprom Neft sign joint Arctic development agreement

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LNG Industry,

As part of the Saint-Petersburg International Economic Forum, Pao Novatek and Pao Gazprom Neft have signed an agreement of intent on Arctic projects.

The document provides for establishing a joint venture to explore and develop Arctic hydrocarbon fields.

“Gazprom Neft has been our reliable partner for many years. Together, we successfully launched our joint venture Arcticgas, which offered unique challenges in developing deeper producing horizons,” noted Leonid Mikhelson, Novatek’s Chairman of the Management Board. “Our experience of working together creates a solid base for expanding our mutually beneficial cooperation in the Arctic zone.”

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