Novatek expects global LNG market to grow by 20g

Novatek expects global LNG market to grow by 20g

Novatek expects global LNG market to grow by 20g

MOSCOW (Reuters) – The global liquefied natural gas (LNG) market may grow in volume by the end of 2020, said Alexander Nazarov, head of investor relations.

According to him, in the future, Novatek (MCX: NVTK) expects to sell 80% of its gas in Asian countries and does not change the plan to produce 57-70 million tons of LNG per year in 2027-2030.

Nazarov also said that the company will consider the possibility of increasing dividends and may revise its dividend policy at the end of 2020.

Last week, Novatek announced that it will now be able to attract external financing for new projects on more weekend terms, as well as remove restrictions on the share of net profits that the company can use to pay dividends, after the removal of debt service guarantees.

The company will decide the fate of the Ob LNG plant in 2021, Nazarov added.

According to him, the production of liquid hydrocarbons by Novatek in 2020 will not change compared to last year.

(Olesya Astakhova, Oksana Kobzeva. Edited by Anastasia Teterevleva)

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