German enterprise, Linde AG, has entered into a strategic partnership and cooperation with Russia’s largest independent natural gas producer, OAO NOVATEK.
The agreement will see the Tier One corporation localise the construction of relevant process modules and will source respective equipment for NOVATEK throughout Russia.
Fundamentally, this partnership will develop competitive solutions for NOVATEK’s liquefied natural gas (LNG) projects in the Eastern European country.
Leonid V. Mikhelson, Chairman of the Management Board of NOVATEK, commented, “The signed agreement will create a favourable environment for consolidating cutting-edge LNG technologies in Russia, give impetus to setting up new and loading the existing domestic industrial capacities and help optimise capital expenditures on LNG projects.”
It is understood that the deal was confirmed at the 2016 St. Petersburg International Economic Forum (SPIEF), although no financial details were disclosed.
SPIEF, an annual international conference dedicated to economic and business issues, attracts over 10,000 participants from governments, businesses and economic bodies. SPIEF 2016 is taking place in the Russian city of St. Petersburg from 16th-18th June.