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BOARD OF DIRECTORS OF OAO NOVATEK APPROVES REORGANIZATION OF SUBSIDIARIES
25 March 2005
Moscow, 25 March 2005. The Board of Directors of OAO NOVATEK, one of the leading natural gas producers in Russia, approved the contribution of NOVATEK’s stake in OOO Khancheyneftegas into the charter capital of OOO Tarkosaleneftegas.
The reorganization is aimed at increasing transparency, optimizing management efficiencies and reducing administrative expenses at the
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PAO NOVATEK is the largest independent natural gas producer in Russia, and in 2017, entered the global LNG market by successfully launching the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company’s upstream activities are concentrated mainly in the prolific Yamal-Nenets Autonomous Region, which is the world’s largest natural gas producing area and accounts for approximately 80% of Russia’s natural gas production and approximately 15% of the world’s gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation. The Company’s shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol “NVTK”.
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