NOVATEK HOLDS ANNUAL GENERAL MEETING
Moscow, Russia — 10 June 2005 — At the Annual General Meeting (AGM) of OAO NOVATEK (RTS: NVTK), held in Moscow today, Leonid
Mr. Mikhelson commented: «In 2004, the Company focused on increasing hydrocarbon production and on securing
In 2004, Novatek’s natural gas sales output, supplied to more than 20 regions of Russia, increased by 22.7%
Novatek’s robust performance was made possible by increasing natural gas and gas condensate production volumes from the Khancheyskoye and Yurkharovskoye fields as well as the launch of the condensate
In 2004, Novatek continued the construction of the Purovsky ZPK, a condensate processing plant, as part of its vertical integration strategy. The Purovsky ZPK, which was formally launched on 3 June 2005. During 2004, the Company also constructed the
In December 2004, the Company increased its equity stakes in OOO NK Tarkosaleneftegas and OOO Khancheyneftegas to 100 percent through an additional share emission.
All resolutions proposed today at the AGM today were approved by the Company’s shareholders.
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. Upstream activities of the Company’s subsidiaries and joint ventures 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.