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NOVATEK & NLMK Conclude Five-Years Gas Supply Contracts

Source: www.gulfoilandgas.com 10/1/2015, Location: Asia

OAO NOVATEK (NOVATEK) and NLMK Group (NLMK) signed five-year natural gas supply contracts. The contracts envisage overall supply of 2.8 billion cubic meters of natural gas per annum starting from 1 January 2016 and fully cover the needs of all Russian entities of NLMK.

Deputy Chairman of the Management Board - Commercial Director of NOVATEK Lev Feodosyev noted: “These contracts are an important step in the execution of our marketing strategy aimed at concluding long-term agreements with our clients. We are very glad to add NLMK to our portfolio, thus obtaining a reliable partner with stable gas consumption”.

NLMK Vice President for Energy Alexander Starchenko commented: “One of the key goals of NLMK Group’s Strategy 2017 is to enhance the efficiency of all production processes. The agreement we’ve reached with NOVATEK is noteworthy due to the flexible conditions for delivery of the key source of energy for the Group’s energy-intensive business; enabling us to make yet another step towards achieving our strategic goal.”

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