NOVATEK ANNOUNCES RESULTS FOR 2013
OAO NOVATEK today released its audited consolidated financial statements for the years ended 31 December 2013 and 2012 prepared in accordance with the International Financial Reporting Standards (“IFRS”).
Total revenues grew by 41.3% year-on-year to RR 298.2 billion for the twelve months ended 31 December 2013 from RR 211.0 billion in 2012. The growth was due to an increase in hydrocarbon sales volumes and higher natural gas and liquids prices. The increase in natural gas prices was due to a significant expansion of the share of end-users in our total gas volumes sales mix, changes in the geography of sales in favor of the remote regions, as well as due to an increase in regulated gas prices, whereas the increase in the average…
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