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14 May 2004. NOVATEK held its annual shareholders’ meeting in Moscow to review the company’s 2003 results, approve the new edition of its charter, elect the board of directors and audit committee, and approve the company’s auditor for 2004.
The annual shareholders’ meeting was highlighted by positive growth in the company’s performance indicators. Gross gas production for the NOVATEK group rose more than 43% to 20.33 bcm; NOVATEK’s net gas supplied to consumers was 13.27 bcm.

In 2003 NOVATEK brought the Yurkharovskoye and Khancheyskoye fields into commercial operation. In January 2003, the first phase of development at the Yurkharovskoye field was launched enabling commercial operation at the field and an annual capacity of 5.4 bcm; in October NOVATEK began supplying gas to industrial consumers from the Khancheyskoye field.

The annual shareholders meeting approved the company’s 2003 annual report. Results of the company’s operational activity in 2003 amounted to net unconsolidated profit of over 3 000 mln rubles. The shareholders resolved to invest the majority of the Company’s profit in the construction of the Purovsky Condensate Processing Plant, BOPP-film plant and continued development of the Yurkharovskoye field. The shareholders resolved to pay 2003 dividends in the amount of 565 million rubles, or 251 ruble per ordinary share.

PricewaterhouseCoopers was approved as Novatek’s auditor for 2004.

NOVATEK’s shareholders elected its Board of Directors (7 members) in Moscow.

The following individuals were elected to the Company’s Board:

  1. Anatoly Brekhuntsov — CEO, OAO Siberian Scientific and Analytical Center («Sibnats»)
  2. Victor Guiria — CEO, OAO Tarkosaleneftegas
  3. Mark Gyetvay — Deputy Chairman, NOVATEK Management Board
  4. Vladimir Dmitriev — Vice-President and CEO, OAO Vneshtorgbank
  5. Iossif Levinzon — Vice Governor, Yamal-Nents Autonomous Region
  6. Leonid Mikhelson — Chairman, NOVATEK Management Board
  7. Alexander Natalenko — Honorable Geologist of Russia, Laureate of the RF State Prize

Alexander Natalenko was elected Chairman of the Board of Directors.

PAO NOVATEK is one of the largest independent natural gas producers 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 Area, 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.