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ST. PETERSBURG, May 18. /TASS/. Thailand’s largest oil and gas company PTT may take part in implementation of liquefied natural gas (LNG) projects of the Russian natural gas producer Novatek. The parties also consider an opportunity of cooperating in exploration, fields’ development and LNG supplies, Novatek said on Wednesday after execution of the memorandum of understanding between companies.
"The memorandum fixed intentions of the parties to develop cooperation and explore potential opportunities of joint operations in the field of exploration and development of fields, LNG projects implementation and supplies of LNG and liquid hydrocarbons," the Russian company said.
"Our cooperation has a good basis. Novatek boasts high quality resource base for implementation of new LNG projects. PTT is scaling up supplies of liquefied natural gas to the Thai market and is interested in stable deliveries of this kind of fuel. I am confident we will be able to set up an optimal structure for efficient development of joint business of our companies," Chief Executive Officer of Novatek Leonid Mikhelson said commenting on the document.
PTT may also participate in implementation of Gazprom’s liquefied natural gas (LNG) projects, development of hydrocarbon fields and trade in LNG and liquefied petroleum gas (LPG).
"The parties discussed potential areas of cooperation. In particular, opportunities were discussed for interaction in development of hydrocarbon fields, implementation of joint LNG projects, LNG and LPG trading and sharing experience in oil and gas sphere," the Russian gas holding said.
Gazprom and another Russian gas producer Novatek signed earlier memoranda of understanding and cooperation with PTT.