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Novatek's Profit Plummets 60% Amid Sanctions and Setbacks

2/11/2026

41 8 Full Breakdown

Summary

Story summary

Novatek, Russia's largest LNG producer, reported a 60% drop in 2025 net profit to 183 billion roubles.
Novatek faces Western sanctions related to Ukraine, with Arctic LNG-2's ramp-up hindered since production began in December 2023.
Novatek delivered its first cargo to China in August 2024.
Normalized net profit fell to 207 billion roubles, with 301 billion roubles of non-cash items, despite net income decline.

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Story summary

Novatek, Russia's largest LNG producer, reported a 60% drop in 2025 net profit to 183 billion roubles.
Novatek faces Western sanctions related to Ukraine, with Arctic LNG-2's ramp-up hindered since production began in December 2023.
Novatek delivered its first cargo to China in August 2024.
Normalized net profit fell to 207 billion roubles, with 301 billion roubles of non-cash items, despite net income decline.