Novatek To Supply Russian Steelmaker

Russian steel and mining concern Severstal has struck a deal to buy rubles 55bn ($874mn) of gas supplies from Novatek, the country’s largest private gas producer, by the end of 2023.

Severstal, which operates a number of steelworks and coal and iron ore mines in western Russia, announced the supply agreement on July 16. The contract is effectively immediately. 

Novatek’s gas fields are located mainly in the Yamalo-Nenets region of Western Siberia.