The history of NOVATEK started in August 1994, when AOOT FIK Novafininvest was established (the name was changed to OAO NOVATEK later). The new Company focused on oil and gas assets development from the very beginning.

We acquired the exploration and production licenses in the YNAO (East-Tarkosalinskoye, Khancheyskoye and Yurkharovskoye fields) and made significant investments in the fields development and surface facilities construction. The trial operation of the East-Tarkosalinskoye oil field commenced in 1996 and commercial production of natural gas started in 1998. Gas marketing development commenced in 2002 with first natural gas sales to end-customers.

We completed the consolidation of NOVATEK’s main assets in 2004 and disposed the non-core businesses - in 2005 in order to focus on our core assets.

Our Purovsky Condensate Processing Plant was commissioned the same year becoming the most important element of the vertically integrated production chain of the Company and the Company’s IPO was conducted on the London stock exchange and Russia’s MICEX stock exchange.

With over 25 bcm production per annum NOVATEK was the largest independent producer in Russia as earlier as 2005 and retained its market position afterwards.

The Company’s production volumes and asset portfolio grew rapidly in the subsequent years. NOVATEK acquired stakes in SeverEnergia, Nortgas and Yamal LNG, as well as new licenses including prospective areas in the Gydan Peninsula and the Gulf of Ob.

NOVATEK launched a large-scale project on LNG plant construction (Yamal LNG) which will enable the Company to enter the international gas market.

We continued the development of the vertically integrated production chain with the launch of Ust-Luga complex in 2013.

Key Milestones

  • Yamal LNG has commenced producing liquefied natural gas at the first LNG train.
  • Top management presented long-term corporate strategy on the Corporate Strategy Day.
  • NOVATEK’s subsidiaries and joint ventures won bids for licenses for the Gydanskiy subsoil area, the Osenniy subsoil area and subsoil areas including the Verhnetiuteyskoye, the West-Seyakhinskoye and the Shtormovoye fields.
  • NOVATEK obtained licenses for the South-Khadyryakhinskiy, the Syskonsynyinskiy and the West-Yaroyakhinskiy license areas through acquisitions.
  • Finalization of external financing package for the Yamal LNG project for the total amount equivalent to USD 19 bln with participation of Russian and international banks, the National Welfare Fund of Russia and international export credit agencies
  • Closing of the sale of a 9.9% equity stake in the Yamal LNG project to China’s Silk Road Fund
  • Obtaining the rights for the Nyakhartinskiy, Ladertoyskiy, Nyavuyahskiy, West-Solpatinskiy, Syadorskiy, North-Tanamskiy and Tanamskiy license areas as well as for the Kharbeyskoye field
  • Conclusion of a concession contract with the State of Montenegro for the exploration and production of hydrocarbons on four offshore blocks in the Adriatic
  • Arcticgas launches the Yaro-Yakhinskoye field
  • Terneftegas launched the Termokarstovoye field
  • Yargeo launched the Yarudeyskoye field
  • NOVATEK and Gazprom Neft agree on equalizing their stakes in SeverEnergia
  • Launch of the third stage of the Samburgskoye field
  • Launch of the first and the second stage of the Urengoyskoye field
  • Launch of the stable gas condensate transshipment and fractionation complex at the all-seasonal Baltic port of Ust-Luga with overall processing capacity of six million tons per annum.
  • Completion of the expansion at the Purovsky plant capacity from five million tons to 11 million tons per annum.
  • Increase in NOVATEK’s effective share in the SeverEnergia joint venture (subsequently renamed “ArcticGas”) from 25.5% to 59.8% as a result of an asset acquisition and an asset swap deals.
  • Launch of the Eastern Dome of the North-Urengoyskoye field developed by the Nortgas joint venture.
  • Winning an auction for exploration and production license for the East-Tazovskoye field.
  • Sale of a 20% direct equity stake in the Yamal LNG project to CNPC.
  • Launch of the Dobrovolskoye field and part of the Urengoyskoye field located within the Olimpiyskiy license area.
  • Successful placement of a four-year rouble denominated Eurobond issue for an aggregate amount of RR 14.0 billion.
  • The first train of SeverEnergia's Sumburgskoye field was launched in April, and the second train was launched in December.
  • The Company held an official ceremony to mark the start of construction at the Sabetta port, which will be used for the shipment of the product of the "Yamal LNG".
  • We launched the fourth stage of Phase Two development at the Company’s Yurkharovskoye field, which allows for achieving design production capacity of the field.
  • The Company concluded an agreement with Braskem (Brazilian petrochemical company) for supplying up to one million tons of naphtha produced at the Ust-Luga complex in 2013.
  • The rоuble bond placement was made in the amount of RR 20 billion with a three-year maturity. We also registered the new rouble bond issue with a three-year maturity for the total amount of RR 45 billion.
  • NOVATEK acquires 49% of Nortgas holding the license for the Severo-Urengoyskoye field.
  • A ten-year Eurobond issue was made in an aggregate amount of US$ 1.0 billion.
  • NOVATEK acquired an 82% participation interest in the share capital of OOO Gazprom Mezhregiongas Kostroma supplying natural gas to a wide range of consumers in the Kostroma Region.
  • Our proved hydrocarbon reserves under the SEC reserve methodology increased by 32% to 12.4 bln boe.
  • Opened the navigational period for high-tonnage tankers using the Northern Sea Route early (June) and closed the period in November establishing a new record for the longest use of the route during a single year.  During the five month period we dispatched nine tankers carrying over 600 thousand tons of stable gas condensate. 
  • Successfully closed our debut Eurobond issue in an aggregate amount of US$ 1.25 billion. The Eurobond issued at par in two tranches, a five-year US$ 600 million bond and a ten-year US$ 650 million bond.
  • Received four new license areas for exploration and production in Gydan peninsula and offshore in the northern portion of the Gulf of Ob on the basis of a tender and subsequent ruling by the Russian Government.
  • Increased our equity interest in Yamal LNG from 51% to 100% by exercising two call options for 23.9% and 25.1%.
  • Closed the sale of a 20% participation interest in Yamal LNG to the major French oil and gas company Total.
  • Acquired a 100% participation interest in the share capital of the regional gas distributor OOO Gazprom Mezhregiongas Chelyabinsk.
  • Corporate Strategy Day Presentation in London, where NOVATEK’s senior management provided operational guidance for production and capital expenditures through 2020, an update on the Yamal LNG project as well as a review of performance and strategy implementation to date.
  • A cooperation agreement with OAO Gazprom for LNG production in the Yamal peninsula as well as long-term agency agreement between OOO Gazprom Export and Yamal LNG providing for the export of LNG produced from the development of the South-Tambeyskoye field were signed.
  • Ten billion Russian rouble bond with three-year maturity placed.
  • Corporate rating upgraded to BBB-, (stable outlook) by Standard and Poor’s, thus securing our third investment grade corporate ratings (along with Moody’s and Fitch).
  • Established a 50/50 joint venture, OOO Yamal Development, with Gazprom Neft to jointly develop potential hydrocarbon assets in the YNAO.
  • Launched the unstable gas condensate de-ethanization facility at our Yurkharovskoyefield and commenced the unstable gas condensate pipeline from the Yurkharovskoye field to the Purovsky Plant.
  • Launched the third stage of the Yurkharovskoye field’s second phasedevelopment increasing the field’s production capacity to 33 bcm per annum and ourtotal production capacity to 52 bcm.
  • Our 100% equity interest in OOO NOVATEK Polymer sold to OAO SIBUR Holding.
  • First successful delivery of a stable gas condensate to China via the Arctic Ocean’s Northern sea route implemented.
  • Acquired a 51% interest in OOO SeverEnergia through OOO Yamal Development, our 50/50 joint venture with OAO Gazprom Neft.
  • Closed the transaction to acquire a 51% interest in OAO Sibneftegas, by our wholly-owned subsidiary OOO NOVATEK Severo-Zapad, for the development of oil and gas condensate fields within the YNAO.
    • Acquired a 51% interest in OAO Yamal LNG, which holds the license for exploration anddevelopment of the South-Tambeyskoye field.
    • Signed a sale and purchase agreement of 49% interest in ZAO Terneftegas (having exploration and production license on Termokarstovoye gas condensate field) with Total.
    • Launched the second stage of the second phase of development at the Yurkharovskoye field.
    • Established a wholly-owned subsidiary in Poland, NOVATEK Polska, thus expanding our LPG trading activities with Poland.
    • Obtained investment grade BBB- corporate credit rating (stable outlook) by Fitch.
  • Entered into a U.S.$800 million syndicated term loan facility with a three year tenor.
  • Launched the first stage of the second phase of development at our Yurkharovskoye field (the Company’s gross production amounted to 37 billion cubic meters of natural gas per anum).
  • Launched the second phase expansion at our Purovsky Plant increasing processing capacity from two mmt per annum to five mmt per annum comprising 3.75 mmt of stable gas condensate and 1.25 mmt of LPG per annum.
  • Moody’s upgraded NOVATEK’s corporate rating to investment grade Baa3 level (stable outlook).
  • The Purovsky Plant launched.
  • NOVATEK continued restructuring program by disposing its interests in banking and oil production assets.
  • Initial placement of 19% of our shares in the form of GDRs was made on the London Stock Exchange in an initial public offering and a subsequent increase of the GDR program to 29.99% of our ordinary shares.
  • New storage and loading facilities launched at the port of Vitino specially designed to handle stable gas condensate delivered from our Purovsky Plant.
  • The full consolidation of NOVATEK-Tarkosaleneftegas and Khancheyneftegas completed and our interests disposed in non-core business activities involved in oil and gas construction services, including NOVA, and telecommunications businesses.
  • Acquired 100% of Yurkharovneftegas.
  • The first phase of development completed at the Yurkharovskoye field with production capacity of nine bcm of natural gas per annum.
  • Placement of two tranches of credit linked notes for a total amount of U.S.$300 million was made.
  • Placement of one billion rouble debut bond with two-year maturity was made.
  • The Company adopted its new name OAO NOVATEK.
  • Initiated a restructuring program to fully consolidate core assets and divest non-core assets.
  • Production at the Yurkharovskoye field launched.
  • Natural gas sales to end-customers started.
  • The gas-condensate production facilities at the East-Tarkosalinskoye and Khancheyskoye fields launched.
  • Natural gas production launched at the East-Tarkosalinskoye field. 
  • Our first operating business NOVA acquired.
  • We expanded activities into the oil and gas industry through the acquisition of companies holding exploration and production licenses in the YNAO.
  • Novafininvest established as an Open Joint Stock Company.