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    NVTK   US6698881090

NOVATEK

(NVTK)
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Novatek Joint Stock : Hosts Contractors Forum

10/15/2021 | 09:12am EST
Press Releases and Events NOVATEK Hosts Contractors Forum

Moscow, 15 October 2021.PAO NOVATEK ("NOVATEK" and/or the "Company") today hosted a Contractors and Suppliers Forum dedicated to Expanding Cooperation in Capital Construction at its LNG Construction Center in Belokamenka, Murmansk Region. The Forum aims to foster sharing experience and broadening opportunities for Russian equipment manufacturers and contractors to ensure successful implementation of large-scale LNG projects in the Arctic.

Representatives of 153 suppliers and contractors, 9 NOVATEK's subsidiaries and joint ventures, as well as representatives of the Russian Federation Government attended the Forum. Speakers included senior executives of NOVATEK, its subsidiaries and joint ventures, Deputy Minister of Industry and Trade Mikhail Ivanov, Murmansk Region Governor Andrey Chibis, representatives of industrial companies and contractors.

"This is the forum's third edition and it is the first time that we host it at the LNG Construction Center in Belokamenka. In these meetings, we discuss in detail the execution of our LNG projects with Russian equipment manufacturers, engineering companies and contractors," noted Leonid Mikhelson, NOVATEK's Chairman of the Management Board. "One of our paramount tasks is to gain a significant share of the global LNG market. This can be achieved by maximizing import substitution and local content in equipment manufacturing for large-scale LNG projects, which reduces capital expenditures and makes Russian LNG more competitive. Our joint efforts with the support by the Government will allow building up a new LNG sector of Russia's industry."

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 13:11:03 UTC.


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Sales 2021 15 088 M - -
Net income 2021 5 437 M - -
Net Debt 2021 513 M - -
P/E ratio 2021 12,3x
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EV / Sales 2021 4,38x
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Free-Float 97,9%
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Technical analysis trends NOVATEK
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Mean consensus OUTPERFORM
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Last Close Price 219,00 $
Average target price 268,37 $
Spread / Average Target 22,5%
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Leonid Viktorovich Mikhelson Chairman-Management Board & Executive Director
Mark Anthony Gyetvay CFO & Deputy Chairman-Management Board
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Sergey Vladimirovich Vasyunin Director-Operations & Deputy Chairman
Viktor Petrovich Orlov Independent Director
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