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Moscow, 29 October 2013. OAO NOVATEK ("NOVATEK" and/or the "Company") announced today the launch of the Eastern dome of the North-Urengoyskoye field developed by the Nortgas joint venture. Eighteen (18) production wells have been completed at the Eastern dome, and its infrastructure includes a gas treatment facility with annual capacity of six (6) billion cubic meters (bcm), gas gathering networks, gas and gas condensate pipelines to the Western dome of the field. The Eastern dome allows the joint venture to achieve peak production capacity of more than 10 bcm of natural gas and 1.4 million tons of gas condensate already in 2014. According to NOVATEK's CEO, Leonid Mikhelson, "We acquired our equity stake in Nortgas less than twelve months ago, and the Eastern dome of the North-Urengoyskoye field has been prepared for production launch within a very short period of time and is an important contributing factor in our gas and gas condensate production growth. The expected ramp up of gas condensate production is fully synchronized with the expansion of our processing facilities".
OAO Novatek NOVATEK and CNPC Conclude Agreement on Share Purchase in Yamal LNG Share On Facebook Print Alert TIDMNVTK FOR IMMEDIATE RELEASE NOVATEK AND CNPC CONCLUDE AGREEMENT ON SHARE PURCHASE IN YAMAL LNG St. Petersburg, 5 September 2013. Today, in the presence of the President of Russian Federation Vladimir Putin and the Chairman of People's Republic of China Xi Jinping, OAO NOVATEK ("NOVATEK") and China National Petroleum Corporation ("CNPC") concluded an agreement on purchase of a 20% equity share in the Yamal LNG project ("Project") by CNPC. The transfer of title to the equity share is subject to receipt of necessary regulatory approvals and expected to be completed by 01 December 2013. Following completion of the deal, the shareholder structure of OAO "Yamal LNG" will be as follows: OAO NOVATEK (60%), Total S.A. (20%) and CNPC (20%). Chairman of the Board of Directors of CNPC, Zhou Jiping stated "We are satisfied with the progress of our cooperation. The signed agreement is an important step in the development of energy projects providing the fast growing Chinese economy with stable supplies of clean energy resources". Chairman of the Management Board of NOVATEK, Leonid V. Mikhelson stated "CNPC's entrance in Yamal LNG is an important milestone for the Project. We are pleased to welcome a new, strong partner who will contribute its capabilities and resources to the successful implementation of the Project". Note Yamal LNG project envisages the construction of an LNG plant with annual capacity of 16.5 million tons per annum based on the feedstock resources of the South-Tambeyskoye field. According to the PRMS reserve standards, the proven and probable reserves of the South-Tambeyskoye field as of 31 December 2012 were appraised at 907 billion cubic meters of natural gas. The Project also requires the construction of transport infrastructure including a sea-port and an airport located at Sabetta (north-east of the Yamal Peninsula). ***
Novatek Holder: Chinese Firms Want Yamal LNG, Novatek Stakes - Report Date : 26/04/2013 @ 10:08 Source : Dow Jones News Stock : Novatek (NVTK) Quote : 102.45 -2.05 (-1.96%) @ 09:54 Novatek Holder: Chinese Firms Want Yamal LNG, Novatek Stakes - Report Share On Facebook Print Alert MOSCOW--Chinese energy companies that are in talks with OAO Novatek (NVTK.RS) about a stake in a liquefied natural gas project in the Arctic--Yamal LNG--also want a stake in the Russian gas producer, Gennady Timchenko, a major shareholder in Novatek, was reported as saying Friday. "There are Chinese firms that want to buy Novatek shares. They are all asking, but we don't have any [shares available]. We would have to sell our own, and we don't want to," Interfax news agency quotes Mr. Timchenko as saying. Novatek, Russia's largest non-state gas producer, owns 80% of Yamal LNG in Russia's Arctic. Total holds the remaining 20%. The project is expected to produce its first gas in 2017, with a peak annual capacity of 16.5 million metric tons. Write to Moscow Bureau at djnews.moscow@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires