28th Aug 2012 07:09
NOVATEK CONCLUDES LONG-TERM GAS SUPPLY CONTRACTS
Moscow, 28 August 2012. OAO NOVATEK ("NOVATEK" or the "Company"), announced today the conclusion of long-term natural gas supply contracts with OAO E.ON ("E.ON") and OAO Fortum ("Fortum"). The gas supply contracts have been signed for a period of 15 years starting from January 1, 2013 with the total volume of natural gas supplied over this period is estimated to exceed 180 billion cubic meters.
According to the supply contracts NOVATEK will deliver natural gas to the Smolenskaya GRES, the Surgutskaya GRES-2, the Shaturskaya GRES and the Yayvinskaya GRES power stations of E.ON, as well as to the Nyaganskaya GRES and power stations of Fortum in Chelyabinsk.
The Chairman of NOVATEK's Management Board Leonid Mikhelson noted: "The conclusion of these long-term natural gas supply contracts are consistent with the Company's commercial marketing strategy and they will enable NOVATEK, E.ON and Fortum to establish and implement their respective production plans on a stable and mutually beneficial basis over a long-term perspective."
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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 6013[email protected] | |||
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 Autonomous Region, which is the world's largest natural gas producing area and accounts for approximately 84% of Russia's natural gas production and approximately 17% 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 in Russia on MICEX-RTS Stock Exchange and the London Stock Exchange (LSE) under the ticker symbol "NVTK".
Copyright Business Wire 2012
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