Russia's Novatek and Siemens will team up to cooperate in the LNG sector through a strategic partnership and cooperation agreement they signed during Russian Energy Week in Moscow, Novatek said late on Wednesday.
According to the agreement, the parties intend to strengthen and develop their strategic partnership and cooperation in integrated gas-to-power projects on a 'turn-key' basis including LNG supply, downstream and power generation, large, mid and small-scale LNG liquefaction plants and for other topics of mutual interest.
'Novatek plans to significantly increase production of natural gas and LNG, and we are interested in developing the whole natural gas value chain to enhance the competitive advantages of our scalable low-cost LNG projects,' said Leonid Mikhelson, Novatek's chairman.
'We are satisfied with our experience of working with Siemens as a reliable contractor providing equipment to our Yamal LNG project, and we are going to expand this cooperation not only in the Russian Federation, but also in other countries,' he added.
Novatek is one of the largest independent natural gas producers in Russia, and in 2017, entered the global gas market by launching the Yamal LNG project.
Founded in 1994, the company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons.
By Murat Temizer
Anadolu Agency
energy@aa.com.tr