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Results of NOVATEK’S Annual General Meeting of Shareholders
27 May 2008
Moscow, 27 May 2008. OAO NOVATEK (the Company) has announced the results of its Annual General Meeting of Shareholders (AGM) held in Moscow on 23 May 2008.
The Company achieved record financial and operational results due to a combination of volume growth and a strong pricing environment on the domestic and international markets. Total revenues and other income increased to RR 62,4 billion, or by 26,8%, as compared to 2006, and earnings per share grew by 33%.
Speaking at the AGM, Leonid Mikhelson, the Company’s Chairman of the Management Committee, stated: «the Company’s strategy proved its resiliency in this dynamic market environment. Even though our natural gas production was flat
NOVATEK spent approximately RR 20 billion in capital investments into its production facilities and exploratory activities, representing a
The AGM resolved the following agenda items:
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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