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NOVATEK and ROSATOM sign cooperation agreement

LNG Industry,

OAO NOVATEK and the Russian State Atomic Energy Corporation ROSATOM, Sergey Kirienko, have signed a General Cooperation Agreement.

The two companies plan to coordinate the following lines of investment and innovation activities:

  • The safe and efficient navigation in Arctic Waters, White and Baltic Seas.
  • The coordination of interrelated investment projects.
  • The creation of new technologies and development of competitive products (including import substitution) to raise the efficiency of geological exploration, production, transportation, storage and processing of natural gas and gas condensate.

 Novatek and ROSATOM have a mutual interest in developing and organising continuous and environmentally safe icebreaker support to the vessels navigating through the Northern Sea Route, in particular, to and from the port of Sabetta when transporting construction cargoes and end products of the LNG plant on the Yamal peninsula. 

This agreement envisages conclusion of a long-term services contract for icebreaker support through the Northern Sea Route for the period of at least 15 years.

The Chairman of OAO NOVATEK’s Management Board, Leonid Mikhelson said, “The Company is active in the Arctic Region and has pioneered the transportation of hydrocarbons by tankers through the Arctic Ocean’s Northern Sea Route.  We are planning to scale up operations and develop our hydrocarbon fields on the Yamal and Gydan peninsulas and in the Gulf of Ob. A mutually beneficial cooperation with ROSATOM reinforces our confidence in implementing our long-term development plans and underscores our commitment to conducting all of our operation in a sustainable development manner consistent with industry best practices.”

Adapted from press release by Peter Farrell.

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