Alexey Miller, Chairman of the Gazprom Management Committee, Wolfgang Buechele, Chief Executive Officer of Linde, Alexey Mordashov, Chairman of the Board of Directors of Power Machines, and Alexey Mityushov, Chairman of the Board of Directors of Salavatneftemash, signed an Agreement of Intent today at the St. Petersburg International Economic Forum 2016.

According to the document, the parties will explore the possibilities for joining efforts with the purpose of establishing a Russian-based manufacturer of natural gas liquefaction and processing equipment. It is planned to prepare a feasibility study and a business plan to identify the most efficient form of partnership, including a possible joint venture, by the end of 2016.

The feasibility study and business plan will take into account the technological demand for and the competitiveness of such equipment in Russia. Russian-made components will be used in the manufacturing process to the maximum extent possible. The parties have tentative plans to manufacture a wide range of equipment for facilities employing various technologies for natural gas liquefaction and processing.