Traded as MCX: NVTKLSE: NVTK Products PetroleumNatural gas Operating income Founded August 1994 Number of employees 5,997 | Industry Oil and gas Revenue ₽298.1 million (2013) | |
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Key people Alexander Y. Natalenko (Chairman)Leonid Mikhelson (CEO) | ||
Novatek (Russian: ОАО «НОВАТЭК», MCX: NVTK, LSE: NVTK) is Russia's largest independent natural gas producer, and the seventh largest publicly traded company globally by natural gas production volume. The company was originally known as OAO FIK Novafininvest. Novatek is based in the Yamalo-Nenets Autonomous Region in West Siberia, and maintains a sales office in Moscow.
Contents
- Item review novatek car camera gt300
- Operations
- Ownership
- US Restrictions on Long term Debt Financing to Russian Energy Companies
- References
Item review novatek car camera gt300
Operations
The major gas field owned by Novatek is the Yurkharovskoye field. On 27 May 2009, Novatek bought a 51% stake in Yamal LNG from Volga Resources, which controls the giant South-Tambeyskoye field. On 2 July 2010, Novatek purchased Tambeyneftegas, which holds the licence to the Arctic Malo-Yamalskoye field, located on the Yamal Peninsula and holding 161 billion cubic metres (5.7 trillion cubic feet) of natural gas and 14.4 million tonnes of gas condensate. Novatek and Gazprom plan to build a liquefied natural gas plant in Yamalo-Nenets Autonomous Okrug. Total S.A. will also be involved as a 20% shareholder. Together with Total S.A., Novatek is developing the Termokarstovoye field in Yamal.
In December 2010, Novatek bought a 51% stake in Sibneftegaz from Gazprombank (Itera owns 49% of the shares). Sibneftegaz holds licences for exploration and production in the Yamal-Nenets region, including for the Beregovoye field, Pyreinoye field, Zapadno-Zapolyarnoye field, and the Khadyryakhinskiy licence area. Sibneftegaz owns rights to develop oil and gas condensate fields with a total resource of 395.53 bcm of natural gas and 8.44 million tonnes of gas condensate.
In 2011, Novatek was awarded licences to develop the Geofizichenskoye field, Salmanovskoye (Utrenneye) field, Severo-Obskoye field and Vostochno-Tambeiskoye field.
In addition, Novatek has acquired the following companies:
Novatek is developing the Sabetta port, in a joint project with the Russian government. This port would allow LNG exports by sea from the Yamal peninsula.
Ownership
Novatek is a public company with shares traded on the London and Moscow stock exchanges. The major shareholders of Novatek are Leonid Michelson, the CEO, with around 28% of the shares, Volga Group with 23% of shares, Total SA with 16% and Gazprom with 9.4%.
US Restrictions on Long-term Debt Financing to Russian Energy Companies
In July 2014, the US Government announced sanctions targeting the Russian energy sector in retaliation to the Kremlin's annexation of Crimea. These sanctions target the provision of long-term (over 90 days) debt financing denominated in USD offered to companies with the Russian Energy Sector.