Press Releases and Events
NOVATEK announces new Perm subsidiary
Moscow, 27 May 2010. OAO NOVATEK (“NOVATEK” and/or the “Company”) has announced the creation of a wholly-owned subsidiary, OOO NOVATEK Perm, to support the Company’s current natural gas deliveries to the Perm Territory as well as to expand potential sales opportunities in the territory.
The Perm Territory is one of the largest industrial centers in the Russian Federation and one of NOVATEK’s main markets for natural gas sales. In the first quarter of 2010, the Company supplied approximately 30% of the Perm Territory’s natural gas consumption during the period.
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.