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NOVATEK ACQUIRES 25.5% OF TRUBOIZOLYATSIYA SHARES
06 August 2004
August 6, 2004. ОАО Novatek, the second largest natural gas producer in Russia, has acquired an additional 25.5% (56,159 ordinary shares) of OAO Truboizolyatsiya (Novokuibyshevsk, Samara region) at an auction held by the Russian Federal Property Fund for RUR 61 mln, increasing its stake in Truboizolyatsiya to 96.68%.
Established in 1961 in the city of Novokuibyshevsk, under the name ''BRIZOL'', the Company’s initial production from the factory was bitumen rubber insulation. Today, OAO Truboizolyatsiya is the largest producer of
OAO Truboizolyatsiya’s products are manufactured to meet international standards and in 1999 the Company received an award in Paris recognizing the quality of its products. Throughout its operational history, Truboizolyatsiya has supplied more than one thousand firms in the oil and gas industry, and counts OAO Gazprom, OAO Transneft, NK Lukoil, NK Surgutneftegaz and TNK among others as its clients.
In September 2003, Novatek began constructing a modern,
The Chairman of the Board of OAO Novatek, L.
Today, Truboizolyatsiya is a profitable and dynamic operation adapting it business strategy to meet the changing demands of the global marketplace.
PAO NOVATEK is one of the largest independent natural gas producers in Russia, and in 2017, entered the global gas 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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