Novatek Joins Arctic Economic Council
Russian LNG exporter Novatek has formally joined the international Arctic Economic Council (AEC), a group formed in 2014 to facilitate business-to-business activities and promote responsible economic development in the Arctic region, it said on February 3.
"Responsible business conduct in compliance with international standards and best practices in environmental protection and climate change mitigation is one of the priorities for the company," Novatek CEO Leonid Mikhelson said. "Novatek's participation in the Arctic Economic Council signifies our commitment to this initiative and our contribution to the region's sustainable economic development."
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AEC members range from start-ups and other small companies to major international organisations. Novatek is the first Russian oil and gas company to join, although Russia's state nuclear firm Rosatom and state shipping group Sovcomflot are members.