OAO Novatek has signed five-year natural gas supply contracts with NLMK Group.
The contracts cover an overall supply of 2.8 billion m3/yr of natural gas starting from 1 January 2016 and fully cover the needs of all Russian entities of NLMK.
Deputy Chairman of the Management Board - Commercial Director of Novatek, Lev Feodosyev, said: “These contracts are an important step in the execution of our marketing strategy aimed at concluding long-term agreements with our clients. We are very glad to add NLMK to our portfolio, thus obtaining a reliable partner with stable gas consumption”.
NLMK Vice President for Energy, Alexander Starchenko, added: “One of the key goals of NLMK Group’s Strategy 2017 is to enhance the efficiency of all production processes. The agreement we’ve reached with Novatek is noteworthy due to the flexible conditions for delivery of the key source of energy for the Group’s energy-intensive business; enabling us to make yet another step towards achieving our strategic goal.”
Edited from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/02102015/novatek-and-nlmk-sign-natural-gas-contracts-1392/