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NOVATEK Announces Financial Results for the Year Ended 31 December 2023

Moscow, 9 February 2024. PAO NOVATEK (“NOVATEK” and/or the “Company”) reported today disclosable consolidated financial statements for the year ended 31 December 2023.

In 2023, our total revenues and Normalized EBITDA, including our share in the EBITDA of joint ventures, amounted to RR 1,371.5 billion and RR 889.8 billion, respectively. Profit attributable to shareholders of PAO NOVATEK amounted to RR 463.0 billion (RR 154.95 per share).

Net cash provided by operating activities of the Group amounted to RR 433.3 billion in 2023 and our cash used for capital expenditures amounted to RR 223.8 billion.

Key performance indicators
(in millions of Russian roubles except as stated)

FY 2023

Financial results

Total revenues


Operating expenses


Normalized EBITDA


Profit attributable to shareholders of PAO NOVATEK


Non-current assets


Non-current liabilities


Net debt


Production volumes

Hydrocarbons production (million barrels of oil equivalent)


Daily production (million barrels of oil equivalent per day)


Cash flow results

Net cash provided by operating activities


Cash used for capital expenditures


Disclosable consolidated financial statements of PAO NOVATEK and the notes thereto are available on the Company’s web site (

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.