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OAO NOVATEK, the largest independent Russian gas producer, increased its daily output to a record-high 73.7-mil cu m as of Dec 1, 2004 from 58.3-mil cu m on the same date in 2003. The increase in production was reached through the launch of new assets over the year.

In July 2004, Novatek has completed the first of three phases of development at the Yurkharovskoye field increasing production capacity to 9 billion cubic meters (bcm) of natural gas per year. In May 2004, a gas pipeline was commissioned increasing gas transportation capacity to 25 million cubic meters per day.

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.