Novatek

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Novatek OAO
Type Public (OAO)
Traded as MCXNVTK
LSENVTK
Industry Oil and gas
Founded 1994 (1994)
Headquarters Tarko-Sale, Russia
Key people Alexander Y. Natalenko (Chairman)
Leonid Mikhelson (CEO)
Products Petroleum
Natural gas
Revenue Increase US$6.9 billion (2012)
Net income Decrease US$227.8 million (2012)
Employees 3,600
Website www.novatek.ru/en/

Novatek (Russian: ОАО «НОВАТЭК», MCXNVTK) is Russia's largest independent natural gas producer, and the country's second largest gas producer after state-controlled Gazprom. The company was originally known as OAO FIK Novafininvest. Novatek is based in the Yamalo-Nenets Autonomous Region in West Siberia, and maintains a sales office in Moscow.

The major shareholders of Novatek are Volga Group, the Luxembourg-based fund controlled by oil trader Gennady Timchenko, with 20.77% of shares and Gazprom with 10%.[1][2] A 9.4% stake is owned by Gazprombank, while Novatek's CEO Leonid Mikhelson and Gennady Timchenko have an option to buy this stake.[2] In 2013 Total SA increased its stake in Novotek to 16%.[3]

Operations[edit]

The major gas field owned by Novatek is the Yurkharovskoye field.[4] On 27 May 2009, Novatek bought a 51% stake in Yamal LNG from Volga Resources, which controls the giant South-Tambeyskoye field.[5] On 2 July 2010, Novatek purchased Tambeyneftegas, which holds the licence to the Arctic Malo-Yamalskoye field, located on the Yamal Peninsula and holding 161 billion cubic metres (5.7 trillion cubic feet) of natural gas and 14.4 million tonnes of gas condensate.[6] Novatek and Gazprom plan to build a liquefied natural gas plant in Yamalo-Nenets Autonomous Okrug.[7] The third partner will be Total S.A. with a 20% stake.[8] Together with Total S.A., Novatek is developing the Termokarstovoye field in Yamal.[9]

In December 2010, Novatek bought a 51% stake in Sibneftegaz from Gazprombank (Itera) owns 49% of the shares).[10] Sibneftegaz holds licences for exploration and production in the Yamal-Nenets region, including for the Beregovoye field, Pyreinoye field, Zapadno-Zapolyarnoye field, and the Khadyryakhinskiy licence area.[11] Sibneftegaz owns rights to develop oil and gas condensate fields with a total resource of 395.53 bcm of natural gas and 8.44 million tonnes of gas condensate.[12]

In 2011, Novatek was awarded licences to develop the Geofizichenskoye field, Salmanovskoye (Utrenneye) field, Severo-Obskoye field and Vostochno-Tambeiskoye field.[13]

In addition, Novatek has acquired the following companies:

References[edit]

  1. ^ Paxton, Robin (2010-03-05). "Timchenko's fund becomes largest Novatek owner". Reuters. Retrieved 2010-07-02. 
  2. ^ a b "Novatek sale 'below market price'". Upstream Online (NHST Media Group). 2011-02-10. (subscription required). Retrieved 2011-02-15. 
  3. ^ http://www.novatek.ru/en/press/releases/index.php?id_4=762
  4. ^ "Novatek boosts flow from Arctic field". Upstream Online (NHST Media Group). 2009-10-19. Retrieved 2010-07-02. 
  5. ^ Zhdannikov, Dmitry (2009-05-27). "Russian oil trade king buys more gas assets". Reuters. Retrieved 2010-07-02. 
  6. ^ Bachman, Jessica (2010-07-02). "Russia's Novatek acquires new arctic field". Reuters. Retrieved 2010-07-02. 
  7. ^ Pitt, Anthea (2010-06-21). "Russian duo team up in Yamal". Upstream Online (NHST Media Group). Retrieved 2010-07-02. 
  8. ^ "Total to buy Novatek stake for $4bn". Upstream Online (NHST Media Group). 2011-03-02. (subscription required). Retrieved 2011-03-03. 
  9. ^ "Putin nod for Total-Novatek plan". Upstream Online (NHST Media Group). 2009-06-24. Retrieved 2010-07-02. 
  10. ^ "Novatek offers Sibneftegaz buyback". Upstream Online (NHST Media Group). 2011-01-21. Retrieved 2011-01-23. 
  11. ^ Begum, Aleya (2010-12-17). "Novatek seals Sibneftegaz stake". Upstream Online (NHST Media Group). Retrieved 2011-01-23. 
  12. ^ Soldatkin, Vladimir (2010-11-16). "Russia's Novatek to pay $900 mln for Sibneftegaz". Reuters. Retrieved 2011-02-19. 
  13. ^ "Novatek wins new Yamal licences". Upstream Online (NHST Media Group). 2011-08-30. Retrieved 2011-08-30. 

External links[edit]