NOVATEK’s Board of Directors Approves Updated Code of Business Conduct and Ethics
Moscow, 20 December 2022. The Board of Directors of PAO NOVATEK (“NOVATEK” and/or the “Company”) approved a revised NOVATEK Code of Business Conduct and Ethics (the “Code”).
Since its foundation, NOVATEK has been committed to the best practices of corporate governance. Being one of the Company’s fundamental documents, the Code establishes a uniform policy of corporate conduct for both internal and external stakeholders. The Code has been updated to reflect the current laws as well as commitments and practices of the Company.
The Code complements the Company’s existing Human Rights Policy, Anti-Corruption Policy, and Supplier Code of Conduct to form a corporate framework of ethics and business conduct standards.
The document is now available on NOVATEK’s official website in the Charter and Corporate Documents section.
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.