Oil & Gas - Natural Gas Production and Liquefied Natural Gas (LNG)
Strategic Profile
Novatek is developing the planned Arctic LNG 1, 2 and 3 liquefied natural gas plants with plans to generate LNG capacity of 70 million tons per annum by 2030, positioning itself as the main player in Russia's liquefied natural gas industry. However, the company faces significant challenges due to geopolitical tensions and international sanctions following the 2022 Russian invasion of Ukraine, which suspended its LSE listing in February 2023.
Cyborg Score Rationale
Novatek possesses strong fundamentals as a major energy producer with substantial reserves and ambitious growth projects. However, significant geopolitical and sanctions-related headwinds create material uncertainty around Arctic LNG project execution and international market access.
Top Insights
2024 revenue of $16.7B with 21,157 employees and market cap of $49.5B
Company delisted from London Stock Exchange in February 2023 following suspension of GDR trading in March 2022 due to Russian invasion of Ukraine
Operates approximately 40 exploration and production licenses in Yamal-Nenets with 12.8 billion barrels of oil equivalent total proved reserves across major fields including Yurkharovskoye and Termokarstovoye
March 2024 investigation revealed European suppliers (Italy, France, Germany, Netherlands, Spain) traded over 500 million euros in goods with Novatek despite EU sanctions
Named Competitors
Gazprom — Russia's dominant natural gas producer
LNG Projects — International LNG competitors
Arctic Oil & Gas — Regional Arctic resource competitors
Recent Developments
(February 2026) Earnings report scheduled for Feb 10, 2026
(March 2024) Investigation disclosed European suppliers continuing to trade with Novatek despite EU sanctions
(October 2025) Latest earnings report released
(2023) Cancelled listing on London Stock Exchange following suspension
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