Company Announcements

NOVATEK and Transneft Signed Agreement

Source: RNS
RNS Number : 1956X
PAO Novatek
17 December 2019



For immediate release


NOVATEK and Transneft Signed Cooperation Agreement


Moscow, 17 December 2019. PAO NOVATEK ("NOVATEK" and/or the "Company") and PAO Transneft ("Transneft") signed an Agreement on Cooperation in Gas Motor Fuel (the "Agreement").                                                   


According to the Agreement, Transneft is considering purchasing LNG from NOVATEK to refuel its cargo truck fleet. The Agreement also confirms the intention of Transneft to replace its old diesel-powered trucks by new gas-powered vehicles.


"This agreement is consistent with NOVATEK's strategy to expand the use of LNG as a motor fuel and to develop the necessary refueling infrastructure," noted Lev Feodosyev, NOVATEK's First Deputy Chairman of the Management Board.  "Switching to LNG in road transportation can significantly reduce harmful emissions into the atmosphere, as well as achieve a lower overall cost to consumers compared to diesel fuel".




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PAO NOVATEK is the largest independent natural gas producer in Russia, and in 2017, entered the global LNG market by successfully launching the Yamal LNG project. 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 mainly in the prolific Yamal-Nenets Autonomous Region, which is the world's largest natural gas producing area and accounts for approximately 80% of Russia's natural gas production and approximately 15% of the world's gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation. The Company's shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol «NVTK».


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