Novatek inks LNG pact with Gazprom

Yamal Peninsula

LNG plans: the Yamal peninsula

Gazprom

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By News wires

 10 January 2013 11:41 GMT

Russian gas monopoly in plan for joint venture to build new facilities near Yamal LNG plant

Russian privately-owned gas company Novatek inked a joint-venture deal with state gas monopoly Gazprom to build additional liquefied natural facilities near the planned site of its Yamal LNG plant, according to a report.

The pair intend to create a joint venture by the end of the year under the agreement signed by Gazprom executive chairman Alexei Miller and Novatek chief executive Leonid Mikhelson in a ceremony on Thursday on an icebreaker docked in St Petersburg, with President Vladimir Putin in attendance, Reuters reported.

The Yamal LNG project, being run by a partnership of Novatek and France’s Total, has caused controversy because Novatek…

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