HMS Group and NOVATEK sign compressor contract
Moscow, Russia - March 12, 2020
HMS Group announces today that it has signed with PAO NOVATEK ("NOVATEK") a contract to engineer and manufacture six main gas compression units. The equipment is to be delivered in 2021 and installed at the Obsky LPG processing plant.
In 2019, HMS Group and NOVATEK signed a Memorandum on strategic partnership, which aims to the further development of mutual cooperation in the 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.
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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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