Russia’s Novatek, Thailand’s PTT agree to collaborate on LNG
MOSCOW, May 19 (Reuters) -- Russia's No. 2 gas producer Novatek and Thailand's largest energy company PTT signed a memorandum of understanding this week which foresees joint exploration and development of hydrocarbons and supplies of liquefied natural gas (LNG).
Novatek, where France's Total holds a 18.64% stake, plans to launch the Yamal LNG project next year with a view to producing 16.5 MMtpy of frozen gas.
The company has said that almost all of the future gas from the project has been presold already.
Russian companies have been exploring ways to increase their global exposure and have made forays into new markets amid Western sanctions over Moscow's role in Ukrainian crisis.
Rosneft, Russia's largest oil company, is expected to sign a framework agreement with Indonesia's Pertamina later this week.
(Reporting by Olesya Astakhova; writing by Vladimir Soldatkin; editing by Dmitry Solovyov)
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