Novatek tacks against the headwinds [NGW Magazine]
Feb 10, 2021 10:15:am
Summary
The Russian gas producer and LNG exporter has been working to improve its green reputation, and investors have taken note. [NGW Magazine Volume 6, Issue 3]
by: Joseph Murphy
Russia’s leading LNG exporter Novatek has been working to convince increasingly climate-conscious investors of its green credentials.
The company’s investment case is mainly its low costs and firm growth trajectory. Its stock price rose steadily in the years before the coronavirus pandemic, peaking at £21.4 ($29.4)/share in October 2019. Investors were heartened by the speedy and on-budget completion of Yamal LNG’s first three trains between late 2017 and late 2018, as well as Novatek’s final investment decision on Arctic LNG-2 in September 2019.