|Traded as||MCX: NVTK
|Industry||Oil and gas|
|Key people||Alexander Y. Natalenko (Chairman)
Leonid Mikhelson (CEO)
|Revenue||US$6.9 billion (2012)|
|Net income||US$227.8 million (2012)|
Novatek (Russian: ОАО «НОВАТЭК», MCX: NVTK) 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 Resources, the Luxembourg-based fund controlled by oil trader Gennady Timchenko, with 20.77% of shares and Gazprom with 10%. A 9.4% stake is owned by Gazprombank, while Novatek's CEO Leonid Mikhelson and Gennady Timchenko have an option to buy this stake. Total S.A. has signed a memorandum of understanding to acquire 12.08% at a cost of $4 billion, with an option to increase its stake to 19.4%.
The major gas field owned by Novatek is the Yurkharovskoye field. On 27 May 2009, Novatek bought a 51% stake in Yamal LNG from Volga Resources, which controls the giant South-Tambeyskoye field. 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. Novatek and Gazprom plan to build a liquefied natural gas plant in Yamalo-Nenets Autonomous Okrug. The third partner will be Total S.A. with a 20% stake. Together with Total S.A., Novatek is developing the Termokarstovoye field in Yamal.
In December 2010, Novatek bought a 51% stake in Sibneftegaz from Gazprombank (Itera) owns 49% of the shares). 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. 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.
In addition, Novatek has acquired the following companies:
- SNP Nova - pipeline construction
- Purneftegasgeologiya - natural gas
- Tarkosaleneftegas - natural gas
- Khancheyneftegas - natural gas
- Yurkharovneftegas - natural gas
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- "Novatek sale 'below market price'". Upstream Online (NHST Media Group). 2011-02-10. (subscription required). Retrieved 2011-02-15.
- "Total to buy Novatek stake for $4bn". Upstream Online (NHST Media Group). 2011-03-02. (subscription required). Retrieved 2011-03-03.
- "Novatek boosts flow from Arctic field". Upstream Online (NHST Media Group). 2009-10-19. Retrieved 2010-07-02.
- Zhdannikov, Dmitry (2009-05-27). "Russian oil trade king buys more gas assets". Reuters. Retrieved 2010-07-02.
- Bachman, Jessica (2010-07-02). "Russia's Novatek acquires new arctic field". Reuters. Retrieved 2010-07-02.
- Pitt, Anthea (2010-06-21). "Russian duo team up in Yamal". Upstream Online (NHST Media Group). Retrieved 2010-07-02.
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- Begum, Aleya (2010-12-17). "Novatek seals Sibneftegaz stake". Upstream Online (NHST Media Group). Retrieved 2011-01-23.
- Soldatkin, Vladimir (2010-11-16). "Russia's Novatek to pay $900 mln for Sibneftegaz". Reuters. Retrieved 2011-02-19.
- "Novatek wins new Yamal licences". Upstream Online (NHST Media Group). 2011-08-30. Retrieved 2011-08-30.