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NOVATEK holds Strategy Day in London

London, 23 April 2007. OAO NOVATEK held its Strategy Day presentation today at the Company’s London representative office. NOVATEK updated its guidance for achieving its strategic targets for 2010 and provided additional guidance for 2015.
NOVATEK’s Strategy Day focused on the following key points:

  • Investment into upstream assets to increase reserves and production
  • Investment into gas condensate processing capacity
  • Optimization of marketing channels
  • Consideration of value added projects in complimentary business segments
  • Updates to financial guidance and targets

NOVATEK reiterated its production guidance for 2010 of 45 billion cubic meters (bcm) of natural gas and 4.6 million tons (mmt) of liquids (gas condensate and crude oil). The Company also plans to increase the processing capacity at its wholly-owned Purovsky Gas Condensate processing plant to 5 mmt per annum by the end of 2008.

In addition, the Company has extended its operational guidance up to 2015. Based on the increased gas condensate processing capacity and further upstream investment, mainly in the fields of Yurkharovneftegas, the Company plans to produce up to 65 bcm of natural gas and 8 to 9 mmt of liquids by 2015.

NOVATEK plans to continue growing its core exploration and production segment and also seek opportunities in downstream and complimentary sectors.

NOVATEK’s Strategy Day presentation can be found on the Company’s website:

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.