Press Releases and Events
NOVATEK increased its stake in Nortgas to 50%
Moscow, 25 June 2013. OAO NOVATEK (“NOVATEK” and/or the “Company”) announced today that its equity stake in ZAO Nortgas (“Nortgas”) increased from 49% to 50% as a result of an additional issue of shares. The per share purchase price of the additional stake is in line with the price paid for the 49% stake in Nortgas acquired earlier.
Nortgas holds the hydrocarbon production license for the North-Urengoyskoye field, located in the Nadymskiy and Purovskiy regions of Yamal-Nenets Autonomous District. The North-Urengoyskoye field has proved reserves of 157.3 bcm of natural gas and 21.1 million tons of liquid hydrocarbons, as estimated under SEC reserves methodology at 31 December 2012. During 2012, the field produced 4.2 bcm of natural gas and 426 thousand tons of unstable gas condensate
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.