OREANDA-NEWS. OAO NOVATEK and the Administration of the Kostroma Region entered into a 3-year Cooperation Agreement at the 20th Saint Petersburg International Economic Forum. Sergey Sitnikov, the Kostroma Region Governor and Leonid Mikhelson, Chairman of the Management Board of NOVATEK, signed the document.

The Agreement entails cooperation between the parties in the Kostroma Region’s social and economic development as well as the region’s gas infrastructure development. The signed Agreement is aimed at improving living standards, increasing the regional demand for gas and reducing overdue accounts receivable for consumed resources.

Chairman of the Management Board of NOVATEK, Leonid Mikhelson noted: “The Agreement will lay the foundation for us to participate in the development of the region’s social infrastructure. I feel confident that the Agreement will facilitate the expansion of the region’s gas infrastructure and its economic growth as well as help improve the local community’s well-being”.