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Novatek and USC sign memorandum

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LNG Industry,

Novatek has announced that, as part of the International Arctic Forum ‘Arctic: Territory of Dialogue’, it has signed a Memorandum on Strategic Partnership and Cooperation with JSC United Shipbuilding Corp. (USC).

Under the Memorandum, both parties have set out their intention to pursue strategic partnership and cooperation in producing LNG train modules in Russia as part of the prospective Arctic LNG 2 project.

Leonid Mikhelson, the Chairman of Novatek’s Management Board, said: “We see good prospects in uniting our efforts with USC in implementing Novatek’s future LNG projects. Our company has gained significant experience during the construction of the Yamal LNG project, and we are going to use this experience along with the expertise and infrastructure capabilities of Russian enterprises to reduce construction costs and enhance competitiveness of our future LNG projects.”

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