Depositary Receipt Program ContinuesSource: RNS
FOR IMMEDIATE RELEASE
Depositary Receipt Program Continues
Moscow, 13 May 2022. PAO NOVATEK ("NOVATEK" and/or the "Company") announced today that the Russian Federation Government Commission on Monitoring Foreign Investment authorized PAO NOVATEK not to terminate its Global Depository Receipt (GDR) program and to continue GDR circulation outside the Russian Federation.
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. Upstream activities of the Company's subsidiaries and affiliates 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.