Novatek growth threatened by sanctions

The company is experiencing growing pains as it seeks to challenge Gazprom

Novatek is entering a new phase in its evolution from oil-and-gas upstart to one capable of challenging the dominance of the Russian state gas firm Gazprom. Sanctions against Russia and other growing pains threaten to complicate its progress, though. Liquefied natural gas (LNG) is at the heart of Novatek's development from bit player in Russia's gas sector. In 2013, in a major break with the past, the Kremlin decided to partially end Gazprom's monopoly over the gas sector by allowing competitors, namely Novatek and state-run Rosneft, to start exporting LNG. This change will especially benefit Novatek in the shorter term, as it is the most advanced of Russia's gas producers in LNG. The Yamal