Novatek Signs $3.9 Bln Gas Supply Deal with Mosenergo

MOSCOW, December 5 (RIA Novosti) – Russian independent gas producer Novatek has signed a deal worth an estimated 121 billion rubles ($3.9 billion) to supply 27 billion cubic meters of natural gas a year to Mosenergo in 2013-2015, the Moscow power utility said on Wednesday.

“The signing of the gas supply deal with Novatek crowns efforts to optimize fuel deliveries to the company’s electric power stations,” Mosenergo said in a statement.

Novatek, which has no direct access to the export pipelines controlled by gas monopoly Gazprom, is seeking to expand its gas supplies on the domestic market.

In early October 2012, Novatek signed a five-year deal to supply natural gas for leading steel producer Severstal from 2013, with the total volume of natural gas supplied over this period estimated at 12 billion cubic meters.


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