Russia’s Novatek, the operator of Yamal LNG project, said it has signed a memorandum of understanding on potential cooperation in liquefied natural gas with PTT of Thailand.
According to the MoU, the two companies intend to work together on potential joint opportunities in the exploration and production of hydrocarbons, the implementation of LNG projects, the supply of LNG and the development of LNG markets, and the supply of liquid hydrocarbons.
Commenting on the memorandum of understanding, chairman of Novatek’s management board Leonid Mikhelson said, “ Novatek has high-quality quality resources for the implementation of new LNG projects, while PTT is expanding LNG supplies to Thailand and is interested in the sustainability of such supplies to their domestic markets .”
He added that the two companies will look to establish an optimal framework for joint business development.