ST. PETERSBURG, June 18. /TASS/. Novatek and General Electric (GE) have signed an agreement on strategic cooperation aimed at development of Russia’s oil and gas sector, including localization of advanced solutions in the field of production and maintenance of energy equipment for Novatek’s LNG projects, the Russian company reported Saturday.
Also, the two partners inked an agreement on maintenance service of the Yamal LNG plant for 25 years ahead.
The signing ceremony was held within the St. Petersburg International Economic Forum (SPIEF-2016).
Yamal LNG is a large scale project on creating a liquefied natural gas production facility with 16.5 mln tonnes per year capacity. The project involves the creation of transport infrastructure, including a seaport and an airport near the Sabetta village (north-east of the Yamal Peninsula).
The company’s shareholders are Russia’s gas company Novatek - 50.1%, France’s Total - 20%, China’s CNPC - 20% and the Silk Road Fund - 9.9%.