Novatek in Big Share Buy-back

Russia’s largest independent gas producer, Novatek, bought back 440,000 of its ordinary shares at the end of November.

The company commented on its share buyback programme earlier in the month, claiming that the current share movements did not reflect "our strong business fundamentals and future growth prospects".

Novatek is the operator of the Yamal LNG project which aims to develop the South Tambey (Tambeyskoye) gas field, on the Yamal peninsula in Russia. It is in partnership with French company Total. The two partners announced an evaluation of the project last month.

See also: Novatek, Total, Evaluate Yamal Project