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Novatek and Marubeni sign MoU

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LNG Industry,

Novatek has released a statement claiming that it has signed a Memorandum of Understanding (MoU) with Marubeni Corp.

Under the MoU, both parties intend to pursue opportunities for strategic cooperation in the upstream and midstream Novatek Arctic LNG 2 project in Russia. Both companies will also cooperate in the supply of LNG, shipping arrangements, gas related infrastructure projects, and transaction of other liquid hydrocarbons.

Leonid Mikhelson, the Chairman of Novatek’s management board, said: “We see strong interest of Japanese companies wanting to participate in Novatek’s projects. Our joint implementation of projects aimed at monetising the prolific hydrocarbon resources of the Russian Arctic will ensure their economic efficiency and competitive advantages on the global LNG market. We are sure that cooperation with Marubeni Corp. along the whole value chain from production to marketing of LNG will be mutually beneficial for both our companies.”

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