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Novatek signs MoU with PTT

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LNG Industry,

Novatek has released a statement claiming that it has signed a Memorandum of Understanding (MoU) with Thailand’s PTT. The MoU was signed at a meeting between Dmitry Medvedev – the Russian Prime Minster – and Prayut Chan-o-cha – the Prime Minister of Thailand.

Under the MoU, both parties have agreed to cooperate and study possible joint opportunities in the following:

  • The exploration and production of hydrocarbons.
  • The implementation of LNG projects.
  • The supply of LNG.
  • The development of LNG markets.
  • The supply of liquid hydrocarbons.

Leonid Mikhelson, the Chairman of Novatek’s Management Board, said: “There are strong fundamentals for this joint cooperation. Novatek has high quality resources for the implementation of new LNG projects, while PTT is expanding LNG supplies to Thailand and is interested in the sustainability of such supplies to their domestic markets. I’m certain we will be able to establish an optimal framework for efficient joint business development of our companies.”

Edited from press release by David Rowlands

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