Saipem has released a statement claiming that it has signed a strategic partnership and cooperation agreement focused on LNG activities with Novatek. Saipem claims that both companies will explore ways to cooperate on the execution of Novatek’s future LNG projects, and that the agreement will help to strengthen the partnership between both parties.
The agreement was signed in the presence of the President of the Russian Federation, Vladimir Putin, as well as the Prime Minister of Italy, Matteo Renzi.
Both companies will seek to improve both their efficiency and positions in the market. The CEO of Saipem, Stefano Cao, said: “We are very pleased to have entered into this strategic partnership with Novatek, a key operator in an area with important new business opportunities. We will leverage our distinctive competences in high-end projects, and in particular in LNG, and our proven operational experience in Russia to support Novatek’s business objectives.”
Edited from press release by David Rowlands