HMS Group: HMS and NOVATEK sign Memo on localization of LNG equipment

HMS Group (HMSG) 
HMS and NOVATEK sign Memo on localization of LNG equipment 
 
01-Oct-2019 / 17:43 MSK 
Dissemination of a Regulatory Announcement that contains inside information 
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
HMS Hydraulic Machines & Systems Group plc 
(the "Company", and together with its subsidiaries, the "HMS Group") 
 
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: [e-mail] 
 
Alexander Rybin, Head of Capital markets, on telephone: [phone], 
or email: [e-mail] 
 
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 [1] 
 
Press Release Information Accuracy Disclaimer 
 
Information published in press releases was accurate at the time of 
publication but may be superseded by subsequent releases or other 
information. 
 
ISIN:           US40425X4079 
Category Code:  AGR 
TIDM:           HMSG 
LEI Code:       254900DDFETNLASV8M53 
OAM Categories: 2.2. Inside information 
                3.1. Additional regulated information required to be 
                disclosed under the laws of a Member State 
Sequence No.:   21960 
EQS News ID:    883761 
 
End of Announcement EQS News Service 
 
 
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=6cde9233abd1f5907c515abe8eed3280&application_id=883761&site_id=vwd&application_name=news 
 

(END) Dow Jones Newswires

October 01, 2019 10:43 ET (14:43 GMT)