June 18, 2019, 22:37

Russia’s Novatek Signs Deal With Siemens to Cooperate on LNG

Russia’s Novatek Signs Deal With Siemens to Cooperate on LNG

MOSCOW (Sputnik) – Russia’s natural gas producer Novatek and Siemens have signed a strategic partnership agreement that covers cooperation in the liquefied natural gas (LNG) sector, the German company said on Wednesday.

“The partners have agreed to cooperate in areas of mutual interest. The spheres include [building] small, medium and large plants to liquefy natural gas; and Gas-to-Power projects which comprise LNG deliveries, gas processing plants (methanol production, for example) and energy production, as well as turnkey projects,” Siemens said in a statement.

READ MORE: Russia Seeks to Secure 20% Share in Global LNG Market — Energy Minister

According to Siemens AG CEO Joe Kaeser, the new deal significantly strengthens Siemens’ cooperation with Novatek and gives an impetus for further cooperation.

The current strategic partnership agreement is the second between the two companies. The first deal was signed in 2013.

Source: sputniknews.com

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