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NOVATEK SOLD MINORITY STAKE IN OAO TAMBEYNEFTEGAS
23 June 2005
Moscow, 23 June 2005. OAO NOVATEK (RTS: NVTK) today announced that it has sold its entire minority stake of 25.1% in OAO Tambeyneftegas to Gazprombank. NOVATEK’s Board of Directors approved this disposal at its meeting on Tuesday 21 June. The specific terms and conditions of the transaction are not disclosed. OAO Tambeyneftegas is engaged in the exploration and production of gas condensate in the South Tambeyskoye field in the Yamal Peninsula of Russia.
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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