Total Increased Its Stake In NOVATEK
MOSCOW, June 26, 2013
MOSCOW, June 26,2013 /PRNewswire/ --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%.
OAO NOVATEK is Russia's largest independent gas producer and the
second-largest natural gas producer in Russia. Founded in 1994, NOVATEK is
engaged in the exploration, production, processing and marketing of natural
gas and liquid hydrocarbons. Its upstream activities are concentrated in the
prolific Yamal-Nenets Autonomous Region, which is the world's largest natural
gas producing area and accounts for approximately 90% of Russia's natural gas
production and approximately 17% of the world's gas production. NOVATEK is an
open joint stock company established under the laws of the Russian Federation.
NOVATEK's shares and GDRs are listed on MICEX-RTS Stock Exchange in Russia and
the London Stock Exchange (LSE), respectively, under the ticker symbol "NVTK".
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
SOURCE OAO NOVATEK
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