MOSCOW: PAO NOVATEK has formally joined the Arctic Economic Council, a news release said.
The Arctic Economic Council (AEC) is an international business forum established in 2014 at the initiative of the Arctic Council in order to facilitate business-to-business activities and promote responsible economic development of the Arctic region.
The AEC’s active organizations include a diverse range of companies, from start-ups, small- and medium-sized enterprises to regional and international corporations operating in the Arctic zone.
“The responsible development of the Arctic region is core to the sustainable development principles at NOVATEK. We operate many of our present facilities in the Arctic region of Russia as well as ambitions plans for the future development of our LNG platform,” noted Leonid Mikhelson, NOVATEK’s Chairman of the Management Board.
“Responsible business conduct in compliance with international standards and best practices in environmental protection and climate change mitigation is one of the priorities for the Company. NOVATEK’s participation in the Arctic Economic Council signifies our commitment to this initiative and our contribution to the region’s sustainable economic development”.
PAO NOVATEK is the largest independent natural gas producer in Russia, and in 2017, entered the global LNG market by successfully launching the Yamal LNG project.