PAO NOVATEK (“NOVATEK” and/or the “Company”) today announced that NOVATEK Polska, a wholly owned subsidiary, launched an LNG filling station to provide clean-burning fuel for cargo trucks in Rostock, Germany. The LNG filling station can refuel up to 120 vehicles per day.
This represents NOVATEK’s first LNG filling station in Europe, as the Company plans to build a network of stations in Germany and Poland within the next few years at the key transport connecting points. NOVATEK’s broader strategy as a natural gas and LNG producer implies greater involvement in further development of natural gas as a motor fuel both in Russia and abroad.
“Today, there are only eight LNG filling stations in Germany, and this market segment represents significant growth potential in the context of increasingly stringent environmental standards. Compared to diesel, LNG provides for a significant reduction of emissions of nitrogen oxides, carbon dioxide and almost complete elimination of particulate matter emissions,” noted Lev Feodosyev, NOVATEK’s First Deputy Chairman of the Management Board. “We are actively engaged in developing our LNG refueling infrastructure, which is now the key factor to further expanding the use of LNG, given its affordable price and overall positive effect on the environment.”
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. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company’s upstream activities are concentrated mainly in the prolific Yamal-Nenets Autonomous Region, which is the world’s largest natural gas producing area and accounts for approximately 80% of Russia’s natural gas production and approximately 15% of the world’s gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation. The Company’s shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol «NVTK».