Today Gazprom’s Headquarters has hosted a working meeting between Alexey Miller, Gazprom’s Management Committee Chairman and Leonid Mikhelson, Novatek’s CEO.
The parties addressed the implementation of a Partnership Agreement between the firms, focusing on the prospects for joint hydrocarbon geological exploration and processing projects.
Reference:
Gazprom and Novatek entered into the Partnership Agreement in July 2005.
The Agreement outlines the parties’ interest in joint natural gas & gas chemicals transmission, processing and marketing as well as mutually beneficial cooperation.
The Agreement sets forth the following joint businesses including:
- formulating an integrated long-term strategy for the Russian gas industry and respective market relationship development;
- developing gas production capacities and infrastructure on a win/win basis;
- developing and implementing projects to erect gas condensate transmission infrastructure.
The Agreement also fixes the mutual intention to join forces in the following areas:
- constructing joint hydrocarbon processing facilities, including ethylene/polyethylene, propylene/polypropylene, methanol and liquefied gas production infrastructure;
- expanding capacities for the use of liquefied & compressed gas as motor and household fuel;
- implementing regional socioeconomic development plans and stepping up environmental recuperation measures.
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