Russia’s Novatek and Thailand’s PTT signed a memorandum of understanding (MOU) to cooperate and study potential joint opportunities in the exploration and production of hydrocarbons, the implementation of LNG projects, the supply of LNG and the development of LNG markets, and the supply of liquid hydrocarbons.
"There are strong fundamentals for this joint cooperation. Novatek has high quality resources for the implementation of new LNG projects, while PTT is expanding LNG supplies to Thailand and is interested in the sustainability of such supplies to their domestic markets,” Leonid Mikhelson, Novatek chairman of the board said. “I’m certain we will be able to establish an optimal framework for efficient joint business development of our companies.”