Novatek Releases Update on Buyback Program
OREANDA-NEWS. NOVATEK (“NOVATEK” and/or the “Company”) announces today that pursuant to the Company's buyback program announced on 7 June 2012, during the period from 24 through 28 March 2014, 657,160 ordinary shares (including in a form of Global Depositary Receipts) were purchased on the open market.
OAO NOVATEK is Russia's largest independent gas producer and the second-largest natural gas producer 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 90% of Russia's natural gas production and approximately 17% of the world's gas production. NOVATEK is an open joint stock company established under the laws of the Russian Federation. The Company's shares are listed in Russia on MICEX-RTS Stock Exchange and the London Stock Exchange (LSE) under the ticker symbol "NVTK".