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NOVATEK & TMK Sign Memorandum On Strategic Partnership And Cooperation

Steel News - Published on Mon, 10 Jun 2019

Image Source: ROGTEC
Saint-Petersburg International Economic Forum, PAO NOVATEK and PAO TMK signed a Memorandum on Strategic Partnership and Cooperation. The Memorandum establishes the basic principles and approaches to supply TMK’s casing and tubing production to NOVATEK. The document is valid until the end of 2023 to ensure production efficiency, timeliness and reliability of supplies.

Mr Leonid Mikhelson, NOVATEK’s Chairman of the Management Board, said that “TMK is a reliable tubular products supplier for our projects. The Memorandum raises our mutually beneficial cooperation to a new level and establishes a transparent mechanism for pricing and production capacity reservation. This approach is especially important given our plans to implement large-scale projects in the Arctic region and maximize the participation of Russian producers.”

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Posted By : Ratan Singh on Mon, 10 Jun 2019
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