- Novatek
-
Novatek Type Public Traded as RTS:NVTK
MICEX:NVTK
LSE: NVTKIndustry Oil and gas industry Founded 1994 Headquarters Tarko-Sale, Russia Key people Alexander Y. Natalenko (Chairman)
Leonid Mikhelson (CEO)Products Petroleum
Natural gasRevenue US$4.1 billion (2010)
Employees 3,600 Website novatek.ru/en/ OAO Novatek (Russian: ОАО «НОВАТЭК», MICEX:NVTK, RTS:NVTK) is the Russia's largest independent natural gas producer, and second-largest in overall production after Gazprom. The company was originally known as OAO FIK Novafininvest. Novatek is based in the Yamalo-Nenets Autonomous Region in West Siberia, and maintains 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%.[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] 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%.[3]
Operations
The major gas field owned by Novatek is Yurkharovskoye field.[4] On 27 May 2009, Novatek bought from Volga Resources 51% in Yamal LNG, 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 Peninsuila 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 20% stake.[3] Together with Total S.A., Novatek develops the Termokarstovoye field in Yamal.[8]
In December 2010, Novatek bought 51% stake in Sibneftegaz from Gazprombank. In January 2011, it made a takeover offer to minority shareholders (the largest one being Itera) for the remaining 49% of shares.[9] 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.[10] 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.[11]
In 2011, Novatek was awarded licences to develop the Geofizichenskoye field, Salmanovskoye (Utrenneye) field, Severo-Obskoye field and Vostochno-Tambeiskoye field.[12]
In addition, Novatek has acquired following companies:
- SNP Nova - pipeline construction
- Purneftegasgeologiya - natural gas
- Tarkosaleneftegas - natural gas
- Khancheyneftegas - natural gas
- Yurkharovneftegas - natural gas
References
- ^ Paxton, Robin (2010-03-05). "Timchenko's fund becomes largest Novatek owner". Reuters. http://uk.reuters.com/article/idUKLDE6241NZ20100305. Retrieved 2010-07-02.
- ^ a b "Novatek sale 'below market price'". Upstream Online (NHST Media Group). 2011-02-10. (subscription required). http://www.upstreamonline.com/live/article244237.ece. Retrieved 2011-02-15.
- ^ a b "Total to buy Novatek stake for $4bn". Upstream Online (NHST Media Group). 2011-03-02. (subscription required). http://www.upstreamonline.com/live/article246752.ece. Retrieved 2011-03-03.
- ^ "Novatek boosts flow from Arctic field". Upstream Online (NHST Media Group). 2009-10-19. (subscription required). http://www.upstreamonline.com/live/article196160.ece. Retrieved 2010-07-02.
- ^ Zhdannikov, Dmitry (2009-05-27). "Russian oil trade king buys more gas assets". Reuters. http://uk.reuters.com/article/idINLDE6610AO20100702. Retrieved 2010-07-02.
- ^ Bachman, Jessica (2010-07-02). "Russia's Novatek acquires new arctic field". Reuters. http://uk.reuters.com/article/idINLDE6610AO20100702. Retrieved 2010-07-02.
- ^ "Russian duo team up in Yamal". Upstream Online (NHST Media Group). 2010-06-21. (subscription required). http://www.upstreamonline.com/live/article218317.ece. Retrieved 2010-07-02.
- ^ "Putin nod for Total-Novatek plan". Upstream Online (NHST Media Group). 2009-06-24. (subscription required). http://www.upstreamonline.com/live/article181630.ece. Retrieved 2010-07-02.
- ^ "Novatek offers Sibneftegaz buyback". Upstream Online (NHST Media Group). 2011-01-21. (subscription required). http://www.upstreamonline.com/live/article242341.ece. Retrieved 2011-01-23.
- ^ "Novatek seals Sibneftegaz stake". Upstream Online (NHST Media Group). 2010-12-17. (subscription required). http://www.upstreamonline.com/live/article239841.ece. Retrieved 2011-01-23.
- ^ Soldatkin, Vladimir (2010-11-16). "Russia's Novatek to pay $900 mln for Sibneftegaz". Reuters. http://uk.reuters.com/article/2010/11/16/russia-novatek-idUSLDE6AF1ZU20101116. Retrieved 2011-02-19.
- ^ "Novatek wins new Yamal licences". Upstream Online (NHST Media Group). 2011-08-30. (subscription required). http://www.upstreamonline.com/live/article275382.ece. Retrieved 2011-08-30.
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