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LNG producer Novatek's 2021 net income soars to $5.8 billion

LNG producer Novatek's 2021 net income soars to $5.8 billion
LNG producer Novatek's 2021 net income soars to $5.8 billion   -   Copyright  Thomson Reuters 2022
By Reuters

MOSCOW – Novatek, Russia’s largest producer of liquefied natural gas (LNG), on Wednesday reported a more than fivefold increase in full-year net income to almost 433 billion roubles ($5.8 billion) thanks to rising oil and gas prices.

Total revenue for 2021 rose to 1.16 trillion roubles, up 63% from 2020.

($1 = 75.0040 roubles)