Net profit of NOVATEK calculated under Russian Accounting Standards down 1% to RUB 90.05 bln in HI’17

PAO NOVATEK has released its HI’17 financial statements prepared in accordance with Russian Accounting Standards. The Company’s net profit totaled RUB 90.06 bln, down 1% year-on-year.

NOVATEK’s revenue grew by 11.3% to RUB 228.31 bln.

PAO NOVATEK is one of the largest independent natural gas producers in Russia. 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 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. The Company’s shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol «NVTK».”