Top exec says Novatek may raise dividends already in 2020

MOSCOW, Sep 29 (PRIME) -- Russian independent gas producer Novatek may consider higher dividends already for 2020, Director of the investors relations department Alexander Nazarov said on Tuesday.

“While many international companies reduced or even canceled dividends, we continued to pay them and last week announced an important event, lifting of non-financial guarantees on project financing of the Yamal LNG (liquefied natural gas) project, which will allow us to consider higher dividends already for the entire 2020,” he said.

Novatek sees itself as an undervalued company, Nazarov added.

He also said that the company complies with the schedule of implementation of the Arctic LNG-2 project, whose launch is planned for 2023, and that products made by the fourth stage of the Yamal LNG plant, which is now under construction, will be sold on the spot market after the facility is launched until the end of 2020.

Novatek will make a final investment decision on the Obsky LNG plant in 2021, he also said.

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