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LNG Industry,

PAO NOVATEK have signed a Memorandum of Understanding (MOU) with the China Development Bank.

The MOU confirms the parties’ intentions to cooperate in implementing the ‘Arctic LNG 2’ project, as well as other NOVATEK’s projects, including financing and investment into the capital of these projects.

The Chairman of NOVATEK’s Management Board Leonid Mikhelson noted: "Our strategy envisages a rapid growth of LNG production using international financing sources. We already have a positive experience of cooperating with the China Development Bank on the Yamal LNG project, and we are glad to continue this mutually beneficial cooperation on our new LNG projects.”

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