Novatek boosting Russian LNG capabilities

Russia’s Novatek, the developer of the giant Yamal LNG project, signed on Wednesday a cooperation deal with Atomenergomash, a unit of Russian nuclear group Rosatom.

Under the memorandum on strategic partnership and cooperation, the two companies plan to join forces in producing equipment, pipelines and high-tonnage LNG modules, including the use of new domestic steel grades in Russia.

“One of our strategic priorities is implementing LNG projects with the technological solutions maximizing our LNG production competitiveness,” Leonid Mikhelson, chief executive and co-owner of Novatek said in a statement.

“It is of great interest to us to advance the industrial potential and technological capabilities of Russian enterprises, and we are further developing our cooperation in localizing LNG technologies in Russia,” Mikhelson added.