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Novatek and Fluxys sign LNG MoU

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LNG Industry,

PAO Novatek has announced that it has signed a memorandum of understanding (MoU) with Fluxys SA.

Under the MoU, which was signed as part of the 21st Saint Petersburg International Economic Forum, both parties intend to pursue strategic cooperation in the LNG sector. Specifically, they will focus on developing small scale LNG projects in Europe, developing LNG marketing in Europe and Latin America, optimising LNG logistics, as well other potential projects involving LNG.

Leonid Mikhelson, the Chairman of Novatek’s Management Board, said: “A mutually beneficial cooperation with such an established partner as large infrastructural company Fluxys will help us to develop new LNG markets and to promote Novatek to these markets. This cooperation will increase the efficiency of our LNG projects, utilising our resource base on the Yamal and Gydan peninsulas.”

The Managing Director and CEO of Fluxys, Pascal De Buck, added: “Small scale LNG in our view ticks all the boxes to curb the carbon and health impact of heavy duty road transport, shipping and remote industry. We are pleased to broaden our mutually beneficial cooperation with Novatek to make small scale LNG realise its potential today and in the future.”

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