OAO Novatek (ÐÐÐ Â«ÐÐÐÐÐ¢ÐÐÂ», NVTK) is the Russia's largest independent natural gas producer, and second-largest in overall production after Gazprom. The company was originally known as OAO FIK Novafininvest . Novatek is based in the Yamalo-Nenets Autonomous Region in West Siberia, and maintains sales office in Moscow.
The major shareholders of Novatek are Volga Resources, the Luxembourg-based fund controlled by oil trader Gennady Timchenko, with 20.77% of shares and Gazprom with 10%. A 9.4% stake is owned by Gazprombank, while Novatek's CEO Leonid Mikhelson and Gennady Timchenko have an option to buy this stake. Total S.A. has signed a memorandum of understanding to acquire 12.08% at a cost of $4 billion, with an option to increase its stake to 19.4%.