27th Aug 2009 07:25
GAZPROM AND NOVATEK DISCUSS DEVELOPMENT OF YAMAL LNG
OAO NOVATEK ("NOVATEK") announced today that OAO Gazprom CEO Alexei Miller and NOVATEK CEO Leonid Mikhelson held a working meeting to discuss the formation of a general plan for the development of hydrocarbon resources in the Yamal Peninsula.
The two sides discussed the development plan for NOVATEK's subsidiary, Yamal LNG, as part of the general plan to create LNG production capacity at the Yamal Peninsula. The resource base of the Tambeyskiy group of fields, which NOVATEK and Gazprom hold the licenses to, located in the Yamal Peninsula will provide the basis for the development of LNG facilities.
Summing up the results of the meeting, both sides noted that to effectively develop Yamal LNG it would be prudent to begin discussions with potential partners in the project.
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For further information, please visit www.novatek.ru or contact:
| Press Service+7 (495) 721 2207[email protected]
| Investor Relations+7 (495) 730 6020[email protected] | |
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OAO NOVATEK is Russia's largest independent gas producer and the second-largest natural gas producer in Russia. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company's upstream activities are concentrated in the prolific Yamal-Nenets Region, which is the world's largest natural gas producing area and accounts for over 90% of Russia's natural gas production and 20% of the world's gas production. NOVATEK is an open joint stock company established under the laws of the Russian Federation. The Company's shares are listed on the Russian Trading System (RTS) and the London Stock Exchange (LSE) under the ticker symbol 'NVTK' and on the NASDAQ PORTAL System as Rule 144A GDR under the ticker symbol "NVATY".
Copyright Business Wire 2009
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