AsiaCorporateEurope

Novatek delists from London Stock Exchange

By LNG Prime Staff
Novatek delists from London Stock Exchange
Image: Novatek

Russian LNG exporter Novatek said on Tuesday it had requested to cancel the listing of its depositary receipts from the London Stock Exchange.

The company’s securities have been suspended from trading from March 3, 2022.

Novatek said in a statement that the firm “in connection with the actual suspension of trading of the company’s depositary receipts from March 3, 2022, hereby notifies of its request to the UK Financial Conduct Authority (FCA) to cancel the listing of the company’s global depositary receipts.”

Aslo, Novatek said that March 7, 2023 would be the last day of listing for the GDRs on the London Stock Exchange.

Therefore, the LSE listing cancellation becomes effective on March 8.

Following the cancellation, the company said it will continue listing its shares on the regulated market of the Moscow Exchange while the GDR program remains in force.

Novatek signed this week a non-binding memorandum of understanding with India’s Deepak Fertilisers and Petrochemicals Corporation to supply the latter with LNG.

The firm currently exports LNG via its Yamal LNG plant and the mid-scale facility in Vysotsk but it is also building the Arctic LNG 2 plant.

This 19.8 mtpa project has faced many difficulties due to the introduction of sanctions by the US and the European Union on Russia and Russian firms.

However, Novatek still plans to launch the first Arctic LNG 2 GBS in late 2023.

Most Popular

LNG Terminals

Jera boosts Wheatstone LNG stake

Japan’s power firm and LNG trader, Jera, has strengthened its indirect stake in the Chevron-operated Wheatstone LNG project in Australia by acquiring additional shares.
Research and Development

Shell, GTT, and LR to develop new LNG carrier

UK-based LNG giant Shell, French LNG containment specialist GTT, and classification society Lloyd’s Register have launched a joint development project to develop a conceptual 200,000-cbm LNG carrier combining hybrid-electric propulsion with GTT’s Next1 LNG cargo containment technology.
Contracts and Tenders

Taiwan’s CPC makes progress with Alaska LNG deal

Taiwan’s CPC Corp is making progress on buying LNG and investing in the planned Glenfarne-led Alaska LNG project, according to Taiwan's economy ministry.

More News Like This

Corporate

Novatek’s gas sales down in Q3

Russian LNG exporter Novatek reported lower natural gas sales, including LNG, in the third quarter this year than in the same period last year.
LNG Terminals

PV Gas in LNG supply talks with Novatek

Petrovietnam Gas, a unit of state-owned Petrovietnam, is in talks with Russian producer Novatek to buy liquefied natural gas (LNG) from the latter as part of its plans to diversify its LNG supply sources.
LNG Terminals

Russian LNG production up 13.7 percent in January-August

Russian liquefied natural gas (LNG) production rose 13.7 percent in January-August this year, according to the Russian statistics agency Rosstat.
Vessels

Arctic LNG 2 seeks $1 billion from Hanwha Ocean over terminated LNG carrier orders

Novatek-led Arctic LNG 2 is seeking approximately $1 billion in damages from South Korean shipbuilder Hanwha Ocean over terminated shipbuilding contracts for Arc7 ice-class LNG tankers.