Novatek announces today that pursuant to the Company’s buyback program announced on 7 June 2012, during the period from 30 January through 3 February 2017, 7 460 ordinary shares (including in a form of Global Depositary Receipts) were purchased on the open market.
This was indeed added February 6, 2017.
Novatek announced on January 23, 2017, that, excluding the decline in its share of the Yamal LNG joint venture, its proven reserves were 2.8% higher at end-2016 than a year earlier.
Novatek is Russia’s largest independent gas producer and the second-largest natural gas producer in Russia.
The Company’s 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 80% of Russia’s natural gas production and approximately 16% of the world’s gas production. Novatek is a public joint stock company established under the laws of the Russian Federation.
Novatek, the 2nd largest producer of gas in Russia after state-run Gazprom, sold a 9.9% equity stake in Yamal LNG to China's Silk Road Fund for €1.087 bln in March 2016.
The 1st production train at Yamal LNG is scheduled to start production later this year and the 1st of the project's dedicated giant ice-class LNG carriers Christophe de Margerie reached Europe on January 20 from its South Korean shipyard.
