NOVATEK’s Board of Directors Changes Management Board Composition
Moscow, 17 December 2021. The Board of Directors of PAO NOVATEK (“NOVATEK” and/or the “Company”) has passed the resolution to change the composition of the Company’s Management Board.
The Board of Directors terminated the powers of the Management Board member Evgeny Kot.
Sergey Solovyov who previously held the position of Deputy Chairman of the Management Board – Director for Geology was appointed Deputy Chairman of the Management Board – Director for Prospective Projects with authority over LNG, decarbonization and gas chemical projects.
The Board of Directors also elected Vladimir Kudrin to the Management Board, with a position of Deputy Chairman of the Management Board – Director for Geology. Vladimir Kudrin has worked for a total of 20 years in the Company’s subsidiaries and joint ventures, and held the position of General Director in Arcticgas for the last 7 years.
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.