Profit of

the Net profit of “NOVATEK” under international financial reporting standards (IFRS) grew up in 2019 5.3 times yoy to 865,477 billion rubles, Revenue increased by 3.7% to 862,803 billion rubles.

Operating expenses increased by 6.1% to 640,463 billion rubles, the company said. Profit before tax increased 4.4% to 1,003 trillion.

EBITDA (including share of joint ventures) increased by 11% to 461,157 billion rubles.

“the Growth in revenues and normalized EBITDA was mainly due to the increase in natural gas sales volumes primarily as a result of the start of LNG production in the second and third queues of the plant “Yamal LNG” in July and November 2018, respectively, and the average sales price of natural gas in the domestic market. The impact of these factors was reduced by the fall in hydrocarbon prices on international markets in 2019,” — emphasizes the company.

Capital expenditures increased in 2019 1.8% to 162,502 billion RUB compared to 94,038 bn in 2018.

much of the investment focused on the development of LNG projects (project “Arctic LNG 2”, a project for the construction of large marine structures in the Murmansk region, the project “Ob LNG”), on the development of the North-Russkoye field, the development of Coastal deposits and oil deposits, East-Tarkosalinskoye and Rudakovo deposits, and exploratory drilling.

In 2019 NOVATEK sold 78,452 billion cubic meters of gas (+ 8.8%) and 16,355 million tons of liquid hydrocarbons (+ 3,4%).