HMS Group and NOVATEK agree on localization of LNG equipment |

HMS Group and NOVATEK agree on localization of LNG equipment

MOSCOW: HMS Group announced today that the company and PAO NOVATEK signed a Memorandum on strategic partnership, which aims the further development of mutual cooperation in a field of design and manufacture of first-of-its-kind-in-Russia equipment for LNG projects. The Memorandum sets the general principles and main directions of mutually beneficial cooperation.  It composes the long-term intention of the Parties to pursue a wide-scale cooperation to localize the manufacturing of compressors, pumps and other equipment for NOVATEK's LNG projects. Taking into account a successful experience of cooperation between HMS Group and NOVATEK on design and manufacture of the key compressor-based equipment under the "Arctic cascade" technology (home-grown technology of natural-gas liquefaction, which was developed by NOVATEK), the Parties fixed their mutual interest in cooperative development of new types of high-performance equipment for natural-gas liquefaction as well as further localization of equipment for large-capacity LNG projects and their raw-material base. Prioritized directions of cooperation, fixed in the Memorandum, comprise design, manufacture and testing of hi-tech pumping and compressor equipment, including submersible cryogenic LNG-unloading pumps, as well as column, heat-exchanging and vessel equipment for natural-gas treatment and liquefaction units.
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