Novatek started natural gas production at the Urengoyskoye gas field in the Yamalo-Nenets region.

Novatek issued a statement in regards to the launch of gas production at Urengoyskoye, saying that the operation of the Urengoyskoye field within the company’s Olimpiysky license block is estimated to yield 35.3 billion cubic feet of natural gas annually. Novatek’s yearly estimates are based on the company’s observation that three of the four natural gas wells in the field are producing natural gas.

Novatek is the largest privately-owned natural gas producing company in Russia. It has been estimated that the Urengoyskoye field, where Novatek now produces, contains 741 billion cubic feet of natural gas. The Urengoyskoye gas field is located in Russia’s far northern area. Yamalo-Nenets, where the Urengoyskoye field lies, is a semiautonomous region of the Russian Federation.