MOSCOW (Pakistan Point News / Sputnik - 26th October, 2022) Russia's second-largest independent gas producer Novatek on Wednesday decided not to publish a financial report on the third quarter and on the period from January-September, as well as not to hold a teleconference with investors.
"PAO NOVATEK announced today that the Company has decided not to publish its financial statements and not to hold a teleconference with investors on the third quarter and the nine months 2022 financial results," the company said in a statement.
After the beginning of Russia's military operation in Ukraine in February 2022 and the adoption of several packages of sanctions against Moscow by the European Union, both Russian and foreign energy producers have been facing difficulties.
Energy prices In Europe have accelerated their rise, placing energy security high both on the global and national agenda, and pushing many European governments to resort to contingency measures. The EU has been looking for alternatives to Russian natural gas, as it has pledged to end its dependence on energy supplies from Russia.
Novatek produces hydrocarbons at 23 fields. In 2021, marketable production of natural gas jumped by 3.3%, and production of liquids increased by 0.5%.
