Gazprom's Management Committee Chairman and Leonid Mikhelson, Novatek's CEO have entered into a Partnership Agreement outlining the parties' common interest in the natural gas & gas chemicals transmission, processing and marketing sectors as well as in intensive and mutually beneficial cooperation.
According to Alexey Miller, “joint efforts of the two companies will make a big contribution into forming a civilized and competitive gas market in Russia.”
Leonid Mikhelson, on his part, underscored that “Novatek was set to be intensively involved in implementing the Gas Industry Development General Scheme being drafted nowadays.”
The Agreement sets forth the following major directions of cooperation:
•Formulating an integrated & long-term strategy for the Russian gas industry and respective market relationship development.
•Developing gas production capacities and infrastructure on a mutually beneficial basis.
•Developing and implementing projects aiming to jointly create gas condensate transmission infrastructure.
The parties agreed on Novatek's potential involvement in debottlenecking the United Gas Transmission System, as stipulated by the provisions of the General Scheme for the Russian Federation gas industry development up to 2030.
At the same time, the companies fixed a common position on the expediency of retaining the system of Russian gas exports through an integrated export corridor.
Additionally, the Agreement points to the possibility of Gazprom's buying on mutually beneficial terms into the natural gas extracted by Novatek.
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