Press Releases and Events
NOVATEK completes disposal of NOVATEK-Polymer
Moscow, 27 September 2010. OAO NOVATEK (“NOVATEK” and/or the “Company”) today announced that the Company has completed the sale of 100% of OOO NOVATEK-Polymer (“NOVATEK-Polymer”) to OAO SIBUR Holding.
NOVATEK initially transferred a 32% equity interest in NOVATEK-Polymer to OAO SIBUR Holding on 2 September 2010 after the signing of the Sales and Purchase Agreement and the remaining 68% equity interest was transferred on 27 September 2010 after the deal received approval from the Russian Federal Anti-Monopoly Service.
The disposal of NOVATEK-Polymer, which accounts for less than 3% of NOVATEK’s total revenues, is consistent with the Company’s strategy to focus on its core natural gas and gas condensate production and processing activities.
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.