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
Also in this section
23 April 2026
The addition of an oil pipeline to the Power of Siberia 2 gas project could ensure deliveries of Russian oil to China, materially shorten logistics lines between West Siberia and final customers, and—amid disruption in the Strait of Hormuz—offer a land-based export route that reduces exposure to maritime chokepoints
23 April 2026
There is a clear push to bolster exports to Asia amid uncertainty around its North American neighbour, but there are limits to the benefits from the energy crisis
23 April 2026
Shell made the play-opening discovery in Namibia’s Orange basin back in 2022, but its next well could decide whether the project can actually be commercialised
22 April 2026
The failure of OMV Petrom’s keenly watched exploration campaign at Bulgaria’s Han Asparuh block highlights the Black Sea’s uneven track record, despite major successes like Neptun Deep and Sakarya
