Press Releases and Events
S&P revises outlook for NOVATEK to stable
Moscow, 7 July 2011. OAO NOVATEK (NOVATEK and/or the Company) announced today that Standard & Poor’s (S&P) has revised its outlook for the Company to stable from negative and reaffirmed NOVATEK’s BBB- long-term issuer and ruAA+ Russia national scale ratings.
The revision in the outlook was based on the Company’s strong credit ratios primarily due to strong operational cash flows resulting from production growth and higher prices.
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.