Press Releases and Events
Total increased its stake in NOVATEK
Moscow, 26 June 2013. OAO NOVATEK (“NOVATEK” or the “Company”) has received notice from Total E&P Arctic Russia notifying the Company that they have increased their equity stake in NOVATEK to 16.0%.
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.
Total is one of the largest international oil and gas companies and one of the leaders in the LNG industry with 40 year experience. The company is involved in current LNG projects in Indonesia, Yemen, Qatar, Nigeria, Norway, UAE, Oman, of total capacity amounted to 63 million tons per annum, as well as in other LNG projects in Australia, Algeria, Nigeria and Russia, of total capacity of 47 million tons per annum.
NOVATEK and Total jointly develop the Yamal LNG project. NOVATEK’s share in OAO Yamal LNG is currently 80%, Total owns the remaining 20%. The project envisages the construction of a LNG plant with annual capacity of 16.5 million tons per annum based on the feedstock resources of the South-Tambeyskoye field.