Novatek Signs Memorandum of Understanding with Total, Siemens

By Oliver Griffin Features Dow Jones Newswires

Novatek (NVTK.MZ) said on Friday that its subsidiary Novatek Gas and Power Asia Pte Ltd. has signed a memorandum of understanding with the gas and power business of Total SA (FP.FR) and Siemens AG (SIE.XE).

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Novatek said that the memorandum defines the parties' intent to pursue opportunities to collaborate on liquefied-natural-gas sales and to develop the infrastructure for newly built gas-fired generation plants in Vietnam.

Shares at 1408 GMT up 2%, or 12 roubles, at 662 roubles.

Write to Oliver Griffin at oliver.griffin@dowjones.com

(END) Dow Jones Newswires

December 01, 2017 09:30 ET (14:30 GMT)