HMS Group (HMSG)
HMS Hydraulic Machines & Systems Group plc
HMS Group and NOVATEK sign Memorandum on localization of LNG equipment
Moscow, Russia - October 1, 2019
HMS Group announces today that the company and PAO NOVATEK ("NOVATEK") (the "Parties") 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.
For more information, please, contact:
Inna Kelekhsaeva, Deputy Head of Capital markets, on telephone: +7 (495) 730-6601, or email: email@example.com
Alexander Rybin, Head of Capital markets, on telephone: +7 (495) 730-6601, or email: firstname.lastname@example.org
About HMS Group
HMS Group is the leading pump and compressor manufacturer, as well as the provider of flow control solutions and related services for the oil and gas, petrochemistry, nuclear and thermal power generation, water and wastewater sectors in Russia and the CIS headquartered in Moscow, Russia. HMS Group's products are mission-critical elements of projects across a diverse range of industries. HMS has a listing on the London Stock Exchange in the form of global depositary receipts (LSE: HMSG). http://ar2018.grouphms.com
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