Novatek says it, Saudi Aramco agree on LNG sales, production

MOSCOW, Feb 19 (PRIME) -- Russian independent gas producer Novatek and Saudi Aramco have signed a memorandum of understanding to cooperate in deliveries of liquefied natural gas (LNG), as well as geological exploration and production of gas, Novatek said in a statement on Monday.

Novatek CEO and core owner Leonid Mikhelson said that his company sees significant prospects of strategic cooperation with Saudi Arabia, as quoted in the statement.

“We see a wide array of exciting and mutually beneficial energy opportunities to cooperate with Saudi Arabia… Novatek’s strategy envisages rapidly growing our LNG production and attracting international partners, and, accordingly, we welcome the interest of such a globally important company as Saudi Aramco to jointly collaborate with us in gas markets.”

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