Marubeni and NOVATEK sign Memorandum of Understanding for oil & gas business cooperation in Russia
Dec. 16. 2016
Marubeni Corporation (“Marubeni”) has signed a Memorandum of Understanding (“Agreement”) with OAO NOVATEK (“NOVATEK”), Russia’s largest independent gas production & sales company, for business cooperation in the areas of oil and gas.
Under the Agreement, Marubeni and NOVATEK will explore opportunities to develop upstream and midstream areas for the Arctic LNG 2 project which NOVATEK is newly implementing, LNG supply & shipping arrangements, development of gas-related infrastructure projects, and trade of various liquid hydrocarbons.
By further deepening its cooperative relationship with NOVATEK through energy resources co-development in Russia and trade in hydrocarbon resources, Marubeni is committed to contributing not only to the mutually beneficial relationship between Japan and Russia, but to the stable supply of energy to Japan.
Outline of NOVATEK
Company name ： OAO NOVATEK
Establishment ： 1994
Chairman of the Management Board ： Leonid MIKHELSON
Location ： 22 A, Pobedy street, Tarko-Sale, Yamalo-Nenets Autonomous District, 629850, Russia
Business ： Exploration, production, processing and marketing of natural gas and various hydrocarbon resources