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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  PAO NOVATEK    NVTK

PAO NOVATEK

(NVTK)
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NOVATEK : Debt Service Guarantees on Yamal LNG Removed from NOVATEK

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09/24/2020 | 11:40am EDT

24 September 2020

Moscow, 24 September 2020.PAO NOVATEK ('NOVATEK' and/or the 'Company') today announced that after fulfilling all the conditions stipulated by the Project's external bank financing, the debt service guarantees of Yamal LNG were formally removed from NOVATEK.

'We have reached another significant milestone on Yamal LNG with the removal of the guarantees relating to the project's financing.' noted Leonid Mikhelson, NOVATEK's Chairman of the Management Board. 'The removal of the guarantees will allow NOVATEK to attract external financing for its new projects on more favorable terms, and equally important, removes the restrictions on our dividend payout ratio.'

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 joint ventures 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».

Disclaimer

OAO Novatek published this content on 24 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 September 2020 14:39:03 UTC


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Financials (USD)
Sales 2020 9 891 M - -
Net income 2020 1 267 M - -
Net Debt 2020 2 822 M - -
P/E ratio 2020 36,4x
Yield 2020 2,40%
Capitalization 40 964 M 40 964 M -
EV / Sales 2020 4,43x
EV / Sales 2021 3,79x
Nbr of Employees -
Free-Float 61,8%
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Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 174,09 $
Last Close Price 136,40 $
Spread / Highest target 61,3%
Spread / Average Target 27,6%
Spread / Lowest Target -23,0%
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Managers
NameTitle
Leonid Viktorovich Mikhelson Chairman-Management Board & Executive Director
Alexander Yegorovich Natalenko Chairman
Sergey Vladimirovich Vasyunin Director-Operations & Deputy Chairman
Mark Anthony Gyetvay CFO & Deputy Chairman-Management Board
Andrey Igorevich Akimov Director
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