NOVATEK Announces Consolidated IFRS Results for Second Quarter and First Half 2015
OAO NOVATEK today released its consolidated interim condensed financial statements as of and for the three and six months ended 30 June 2015 prepared in accordance with International Financial Reporting Standards (“IFRS”). IFRS Financial Highlights (in millions of Russian roubles) 2Q2015 2Q2014 1H 2015 1H 2014 111,574 87,881 Oil and gas …
Novatek: 1H Gas Production Up 10.8%, Combined Liquids Up 59.3%
OAO NOVATEK reported today preliminary operating data for the second quarter and first half 2015. In the second quarter 2015, NOVATEK’s marketable production totaled 16.89 billion cubic meters (bcm) of natural gas and 2,198 thousand tons of liquids (gas condensate and crude oil), resulting in an increase in natural gas …
NOVATEK: Signs Long-Term LNG Contract with Shell
OAO NOVATEK announced today that Novatek Gas & Power, a wholly owned trading subsidiary of NOVATEK, has signed a long-term contract with Shell International Trading Middle East for the supply of LNG from the Yamal LNG project. The contract stipulates annual supply of approximately 0.9 million tons of LNG for …
NOVATEK Concludes Long-Term LNG Contract with ENGIE
OAO NOVATEK announced today that Novatek Gas & Power, a wholly owned trading subsidiary of NOVATEK, concluded a long-term contract with ENGIE (formerly GDF SUEZ) on the supply of LNG from the Yamal LNG project. The 23-year contract stipulates annual supply of one (1) million tons of LNG from the …
Terneftegas Launches the Termokarstovoye Field
OAO NOVATEK announced today that Terneftegas, a joint venture between NOVATEK (51%) and Total (49%), formally launched the Termokarstovoye gas and gas condensate field into commercial production. The field is expected to reach its planned daily production level equivalent to approximately 2.4 billion cubic meters of natural gas and 0.8 …
Rosneft: To Form Rosneft Gaz to Compete with Gazprom?
A Rosneft representative refused to comment on the possible creation of a gas offshoot, Rosneft Gaz. One of the sources explained that “the idea to spin off company’s businesses has been discussed.” State-owned Rosneft plans to spin off its gas business into a subsidiary, Forbes reported citing sources aware of the situation.According to the sources, …
NOVATEK Elects New Board of Directors
OAO NOVATEK announced today that the Annual General Meeting of Shareholders (“AGM”) approved the election of new members to the Board of Directors. The following members were elected to the Board of Directors: Andrei I. Akimov: Chairman of the Management Board of Gazprombank (Open Joint Stock Company); Burckhard Bergmann: Board …
RPI: Offshore Field Development in Russia: Are the Sanctions an Opportunity for Russian Companies to Fill the Void?
Vadim Kravets In mid-February 2015, the third round of EU sanctions targted a number of Russian officials and nine new companies were introduced. Previously, in late summer and early autumn 2014, the U.S., EU, Japan and Canada introduced, in two rounds, sanctions againstw certain individuals and sectors of Russia’s economy …
Arcticgas Launches the Yaro-Yakhinskoye Field
OAO NOVATEK announced today that Arcticgas (a joint venture between NOVATEK and Gazprom Neft) launched the Yaro-Yakhinskoye field, which is the third field launched into commercial production by this joint venture. Thirty-seven (37) gas condensate wells have been drilled and the field’s infrastructure also includes a gas gathering network, a …
Novatek: Q1 Results: Gas Production Up 4.7%, Combined Liquids Up 46.2%
OAO NOVATEK reported today preliminary operating data for the first quarter 2015. NOVATEK’s sales production totaled 16.15 billion cubic meters (bcm) of natural gas and 1,991 thousand tons of liquids (gas condensate and crude oil), resulting in an increase in natural gas production by 0.73 bcm, or by 4.7%, and …