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    NVTK   US6698881090

NOVATEK

(NVTK)
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Novatek Joint Stock : Holds Arctic LNG Projects Shipowners Conference

10/15/2021 | 09:32am EST
Press Releases and Events NOVATEK Holds Arctic LNG Projects Shipowners Conference

Moscow, 15 October 2021.PAO NOVATEK ("NOVATEK" and/or the "Company") held the Company's first Arctic LNG Projects Shipowners Conference in Moscow. Top management of the world's major shipping companies, leading manufacturers of marine equipment and developers of state-of-the-art IT solutions for the marine industry took part in the Conference.

The participants paid a particular attention to environment protection, promotion of green shipping and introduction of sustainable technical solutions with the view to reducing the carbon footprint during marine operations in the Arctic. The Conference also looked into year-round navigation along the eastern route and crew training for Arctic vessels operations, including the cooperation between shipowners and Russia's dedicated Arctic navigation training centers.

"This conference offered all stakeholders in Russian Arctic shipping a unique opportunity to engage in a direct dialog on the topical issues of shipping in the region, including matters pertaining to organizing safe year-round navigation in the eastern sector of the Northern Sea Route, as well as to obtain first-hand updates on most recent developments allowing to improve the vessels' energy efficiency and make them more environmentally friendly," said Leonid Mikhelson, NOVATEK's Chairman of the Management Board. "The created infrastructure and the accumulated unique experience in complex Arctic projects implementation, including hydrocarbons shipping, allow the Company to achieve in the near future a significant increase in its LNG production, and subsequently the shipping volumes".

PAO NOVATEK is the largest independent natural gas producer in Russia, and in 2017, entered the global LNG market by successfully launching the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company's upstream activities are concentrated mainly in the prolific Yamal-Nenets Autonomous Region, which is the world's largest natural gas producing area and accounts for approximately 80% of Russia's natural gas production and approximately 15% of the world's gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation. The Company's shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol "NVTK".

Disclaimer

OAO Novatek published this content on 15 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 October 2021 13:31:06 UTC.


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Average target price 268,37 $
Spread / Average Target 15,7%
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Leonid Viktorovich Mikhelson Chairman-Management Board & Executive Director
Mark Anthony Gyetvay CFO & Deputy Chairman-Management Board
Alexander Yegorovich Natalenko Chairman
Sergey Vladimirovich Vasyunin Director-Operations & Deputy Chairman
Viktor Petrovich Orlov Independent Director
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