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Tuesday, October 23, 2007

Novatek and Total join forces

Novatek [RTS ticker: NVTK], Russia's largest private natural gas producer19 October 2007 - Upstream OnLine - Russian gas producer Novatek has signed a co-operation protocol with French giant Total to jointly explore and develop gas projects. "The protocol contemplates that the companies will form working groups to define Russian and foreign assets for joint participation in natural gas and gas condensate projects," Novatek said in a statement. Novatek added the protocol was supported by Russia's gas export monopoly Gazprom , which holds around 19.4% in Novatek.

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