LUKOIL AND SEVERSTAL AGREE TO ENHANCE COOPERATION

Monday, October 8, 2018

President of LUKOIL Vagit Alekperov and Chairman of Severstal's Board of Directors Aleksey Mordashov had a meeting in Moscow today to discuss directions for the development of cooperation.

"Severstal, an important partner for LUKOIL and a leader of Russia's metallurgical and mining industries, has high international exposure. Our cooperation on the rise since 2006, we are now helping each other to tackle localization tasks and ensure good quality of home-made products. Our companies will keep looking for ways to expand our enduring partnership," Mr. Alekperov commented.

"It is a priority for Severstal to develop partnerships with leading Russian and international companies, to jointly search for mutually-beneficial formats of cooperation. LUKOIL is more than just a long-time credible partner of ours as a supplier of high-quality lubricants and a commercial user of tubular goods. It is also an acknowledged leader of Russia's oil-and-gas industry as regards the use of technical innovations. I know positively that the technological base and the experience of our two companies will enable us to find the right decisions to strengthen our positions at the priority markets," Mr. Mordashov noted.