NOVATEK increases its participation interest in share capital of NOVASIB to 100% and YARGEO to 51%
Moscow, 2 June 2006. OAO NOVATEK today announced that it has increased its participation interest in the share capital of NOVASIB, LLC, located in Tarko Sale in the Yamal Nenets Autonomous Region (YANAO) of the Russian Federation, from 50% to 100%. NOVASIB holds the exploration license to the Raduzhniy license area in the YANAO.
NOVATEK also announced that it has increased its participation interest in the share capital of YARGEO, LLC, located in Salekhard in the YANAO of the Russian Federation, from 41% to 51%. YARGEO holds the exploration license to the Yarudeyskiy license area in the YANAO.
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.