News

2021 May 17 15:53

Novatek set to start year round navigation on the Northern Sea Route in 2023-2024

Image source: Sovcomflot
Vladimir Putin and Leonid Mikhelson discussed NOVATEK’s operation in 2020, the company’s current activities and development plans

PAO Novatek is set to start year round navigation on the Northern Sea Route in 2023-2024, Kremlin press center cites Leonid Mikhelson, Chairman of NOVATEK’s Management Board, as saying at the meeting with Russian President Vladimir Putin.

According to Leonid Mikhelson, unique voyages on the Northern Sea Route made in 2020 and in January-February 2021 in cooperation with Sovcomflot and Rosatom mark the steps towards its year round operation.
 
“The navigation season has been opened in May with, I think, unique voyages made in January-February together with Sovcomflot and Rosatom. That was yet another step, or even two steps towards year round operation of the Northern Sea Route. We need that very much, we discuss it with Rosatom and Rosatomflot operating icebreakers, to start year round navigation from 2023, or actually from the season of 2023/2024”, said the head of NOVATEK.

The meeting was also dedicated to the results of NOVATEK operation in 2020, the company’s current activities and development plans.

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”.

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