In the fields of liquefied natural gas construction, natural gas transportation and power generation, the German Siemens Group and the Russian energy giant Novatec have reached a strategic partnership.
Siemens and Novatek plan to expand their business not only in the Russian market but also in other countries. Image source: Reuters
Germany's Siemens Group and Russia's energy giant Novatek, which specializes in liquefied natural gas (LNG), are deepening cooperation. On Wednesday, Novatek announced in Moscow that Joe Kaeser, CEO of Siemens Group, and Leonid Michelson, CEO of Novatek, have reached an agreement to establish a strategic partnership in the areas of LNG equipment construction, natural gas supply and natural gas power generation, but No further details were mentioned.
Novatek is Russia's second-largest natural gas company. It is mining natural gas on the Yamal Peninsula in northern Siberia and invests billions of dollars locally to produce and transport liquefied natural gas. "Siemens has become a 'reliable supplier' of these devices," Michelson said. "We plan to expand our business not only in the Russian market, but also in other countries."