Key Developments: Novatek OAO (NVTK.MM)

NVTK.MM on Moscow Interbank Currency Exchange

389.51RUB
22 Aug 2014
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Latest Key Developments (Source: Significant Developments)

Novatek OAO statement with respect to being listed on OFAC Sectoral Sanction Identification List
Thursday, 17 Jul 2014 07:21am EDT 

Novatek OAO:Sees including the company into the OFAC’s Sectoral Sanctions Identification List as unjustified.Says the inclusion on the list does not impede NOVATEK’s operations and business activities in any jurisdiction, nor does it affect the company’s assets and listed shares.  Full Article

U.S. Treasury Department imposes sanctions on NK Rosneft' OAO, Novatek OAO and Gazprombank OAO
Tuesday, 15 Jul 2014 08:00pm EDT 

NK Rosneft' OAO:U.S. Department of the Treasury says that it has imposed sanctions that prohibit U.S. persons from providing new financing to two Russian financial institutions, Gazprombank OAO and VEB, and two Russian energy firms, Novatek OAO and NK Rosneft' OAO, limiting their access to U.S. capital markets.U.S. Department of the Treasury says the sanctions are imposed on entities within the financial services and energy sectors of Russia, against arms or related materiel entities, and those undermining Ukraine's sovereignty.  Full Article

Novatek OAO announces admission to trading at Saint Petersburg Exchange
Thursday, 5 Jun 2014 02:15am EDT 

Novatek OAO:Says that its ordinary shares have been admitted to trading at Saint-Petersburg Stock Exchange.Date of admission is June 6.  Full Article

Novatek OAO revises production guidance for 2014-Interfax
Friday, 30 May 2014 08:40am EDT 

Novatek OAO:Novatek has revised its gas production target for 2014 downward due to the fire that struck the condensate de-ethanization unit at Arcticgas' Urengoyskoye field, Novatek CFO Mark Gyetvay said during a conference call-Interfax.Novatek now plans to increase gas production 2-3 percent this year, down from the 7-8 percent increase targeted previously.Novatek produced 61.2 billion cubic meters of gas in 2013, including its share of production at dependent organizations and joint ventures.In other words, Novatek expects to produce 62.4-63.1 bcm of gas this year.The company has also cut its growth forecast for liquids production, to 20-30 percent from 40-50 percent.Given that it produced 4.75 million tonnes of liquid hydrocarbons in 2013, Novatek now targets 2014 production at 5.7 million-6.2 million tonnes.The company expects to fully recover from the effects of the accident in the fourth quarter.  Full Article

Novatek OAO signs contract with CNPC for LNG supplies-Interfax
Tuesday, 20 May 2014 02:35am EDT 

Novatek OAO:Novatek has a signed a contract to supply 3 million tonnes of liquefied gas per year to China National Petroleum Corporation (CNPC), an Interfax correspondent reported from the signing ceremony-Interfax.The liquefied gas will be produced under the Yamal LNG project.Yamal LNG's main shareholder is Novatek with 60 percent.CNPC and France's Total each own 20 percent.Project operator OJSC Yamal LNG said in a statement that the contract was signed on DES terms and was valid 20 years.The price of the gas will be based on a formula with a coupling to the JCC oil index.  Full Article

S&P revises outlook on Novatek OAO-Interfax
Tuesday, 29 Apr 2014 07:19am EDT 

Novatek OAO:Standard & Poor's (S&P) has changed the outlook on its long-term local and foreign currency issuer rating of BBB-, assigned to Russian gas producer Novatek, to negative from stable, the agency said in a press release-Interfax.  Full Article

Novatek OAO included into MICEX10 Index
Tuesday, 1 Apr 2014 06:02am EDT 

Novatek OAO:Moscow Exchange announces the amendments into the MICEX10 Index after its quarterly review.Ordinary shares of Novatek OAO will be added to the index.The new constituent list will come into force on April 2.  Full Article

Novatek OAO and Gazprom neft' OAO equalize stakes in SeverEnergia
Monday, 31 Mar 2014 08:00pm EDT 

Novatek OAO:Says that its board of directors has approved several transactions, which will enable NOVATEK and Gazprom neft' OAO (Gazprom Neft) to equalize their respective equity stakes in SeverEnergia joint venture.NOVATEK currently holds 59.8 percent of the joint venture, with Gazprom Neft holding the remaining 40.2 percent equity stake.The agreement stipulates that NOVATEK will sell a 9.8 percent equity stake in SeverEnergia for a cash payment of $980 million.  Full Article

S&P affirms Novatek OAO rating, outlook stable
Thursday, 27 Mar 2014 09:06am EDT 

Novatek OAO:Standard & Poor's Ratings Services (S&P) has affirmed BBB- long-term corporate credit rating and ruAA+ Russia national scale rating on Novatek.The outlook is stable.The rating affirmation follows the announcement on March 20 by the Office of Foreign Assets Control (OFAC) of the U.S. Department of Treasury, that it has added one of Novatek's key shareholders, Timchenko, to the list of "Specially Designated Nationals" (SDN) who are now subject to U.S. sanctions.S&P understands that these sanctions were brought about as a result of the current political crisis in Ukraine.S&P understands from Novatek that Timchenko's direct and indirect ownership stake in Novatek totals 23.49 percent.S&P understands that as Timchenko's shareholding is significantly less than 50 percent, Novatek is not subject to U.S. sanctions.At present, S&P understand from management that operations have not been affected, and S&P has not materially changed the assumptions in base-case forecasts for the company or assessment of its liquidity position.The stable outlook reflects S&P view that Novatek will continue to benefit from growing production and the group's competitive cost structure, and will minimize any further upward revisions in its investment program.  Full Article

Novatek OAO recommends dividend payments for FY 2013
Monday, 3 Mar 2014 07:30am EST 

Novatek OAO:Recommends dividend payments of 4.49 Russian Ruble ordinary share (or 44.9 Russian Ruble per GDR).Excluding interim dividends of 3.40 Russian Ruble per ordinary share paid for the six months of 2013.  Full Article

Sanctions headache for foreign executives at Russian firms

MOSCOW - Western sanctions over the Ukraine crisis could force some executives at Russian firms with foreign passports to give up certain duties, complicating life at the top of some of the country's largest companies.

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