Novatek Concludes Severstal Supply Deal
Novatek has announced today that it has concluded a supply deal with Russian consumer, steel mining company Severstal.
The company will supply the company with an approximate 12 billion cubic metres of gas through two supply contracts.
The contracts, signed with Severstal and Severstal-metiz, will commence from the 1st of January 2013 and will last for five years.
"The conclusion of these gas supply contracts is another step in the implementation of the company's commercial strategy, providing for the increase in the proportional share of end-customers in our total sales mix," Chairman of Novatek’s Management Board Leonid Mikhelson said in a statement today.
"Severstal is a reliable gas consumer and we are happy to establish partnership between our companies."