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.
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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: capital-markets@hms.ru
Alexander Rybin, Head of Capital markets, on telephone: +7 (495) 730-6601,
or email: capital-markets@hms.ru
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
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(END) Dow Jones Newswires
October 01, 2019 10:43 ET (14:43 GMT)
