Novatek delists from London Stock Exchange

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

Yang Ming books LNG-powered containerships in South Korea

Taiwan’s Yang Ming Marine Transport has decided to order LNG dual-fuel container vessels from South Korea's Hanwha Ocean as part of its ongoing fleet optimization plan.

Sabah to take stake in Petronas’ third FLNG

SMJ Energy, owned by the Sabah government, has signed a heads of agreement with Malaysian energy giant Petronas to take a 25 percent stake in the latter's third floating LNG production unit.

Japan’s LNG imports drop in June

Japan’s liquefied natural gas (LNG) imports dropped by 2.8 percent in June compared to the same month last year, according to provisional data released by the country’s Ministry of Finance.

More News Like This

Novatek’s gas sales climb in Q2

Russian LNG exporter Novatek reported a rise in its natural gas sales, including LNG, in the second quarter of this year.

Russian LNG production drops in May

Russian liquefied natural gas (LNG) production continued to decrease in May compared to last year, according to the Russian statistics agency Rosstat.

Russia’s Novatek in LNG truck move

Russian LNG producer Novatek and compatriot National Carrier (NATCAR) are joining fores to develop the market for LNG as fuel for trucks.

Russian LNG production drops in April

Russian liquefied natural gas (LNG) production decreased in April compared to last year, according to the Russian statistics agency Rosstat.