Novatek OAO Signs Five-Year Gas Contract With Severstal-Interfax

Tuesday, 2 Oct 2012 12:25am EDT 

Interfax reported that Novatek OAO has secured a five-year contract with OJSC Severstal (Severstal) and OJSC Severstal-Metiz to supply around 12 billion cubic meters (bcm) of gas for an estimated RUB 59.5 billion (around $2 billion). The Company's statement says the contract takes effect on the first of next year. Deliveries will be made to the Cherepovets metallurgical complex and the Severstal-Metiz plant in Cherepovets, and the Cherepovets metallurgical complex's sheet-rolling shop number 3 in Kolinino. 

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