Russia's Novatek Extends Gas Contract With Mosenergo for Four Years

NovatekA Novatek facility.

Novatek, Russia's second-biggest gas producer, said Tuesday that it had extended its gas supply contract with Gazprom-owned utility firm Mosenergo to the end of 2019.

Novatek, whose largest shareholders are France's Total and businessman Gennady Timchenko, an ally of President Vladimir Putin, is to sell 9 billion cubic meters of natural gas per year to Mosenergo, it said in a statement.

Their initial contract, signed in December 2012, envisaged natural gas supplies to Mosenergo's power generation facilities in 2013-2015. 

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