Novatek Signs LNG Equipment Deal

July 11, 2019

Image: Novatek
Image: Novatek

The Russian natural-gas company Novatek and Atomenergomash, a mechanical engineering division of the Rosatom State Corporation, have signed a memorandum on strategic partnership and localizing the fabrication of critical equipment for liquefied natural gas (LNG) production.

Novatek said that under the memorandum, the two companies will cooperate in the long term to localize the fabrication of pumps, heat exchangers and other equipment for Novatek's LNG projects at Atomenergomash's facilities.

The Memorandum notes the results already achieved on the fabrication of coil-wound heat exchangers and medium-tonnage cryogenic pumps, and establishes the obligations of the Parties on design, manufacturing and conducting pilot tests of high-tonnage cryogenic pumps.

According to the Memorandum, the Parties intend to pursue long-term cooperation to localize the fabrication of pumps, heat exchangers and other equipment for Novatek’s LNG projects at the facilities of Atomenergomash.

 “This memorandum is important for the development of the Russian gas industry and the implementation of our new LNG projects using domestic technologies and equipment,” noted Alexander Fridman, Novatek’s First Deputy Chairman of the Management Board.

“Atomenergomash has already fabricated and shipped heat exchangers and cryogenic pumps for Yamal LNG’s Train #4 utilizing Novatek’s patented “Arctic Cascade” gas liquefaction technology. This equipment is unique for the Russian manufacturing industry. We are interested in creating a domestic industry producing high-tonnage equipment for LNG production, thereby reducing capital costs and increasing our global competitiveness. This entails maximizing the involvement of the Russian scientific and industrial capabilities,” Alexander added.



Current News

Timor Resource to Drill 5 Wells in Timor-Leste

Saudi Aramco Pursues IPO Planning Despite Attack

Saudi Aramco Pursues IPO Planning Despite Attack

Middle East Risks Keep Oil Prices High

Middle East Risks Keep Oil Prices High

Transborders Joins Forces with Osaka Gas

Transborders Joins Forces with Osaka Gas

BP Awards Caspian ACG Contracts

BP Awards Caspian ACG Contracts

Senvion to Sell Assets to Siemens Gamesa

Senvion to Sell Assets to Siemens Gamesa

Oil Price Spike after Saudi Attack Temporary

Oil Price Spike after Saudi Attack Temporary

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week