Bloomberg News

Novatek Snaps Three Days of Losses on Gazprom Joint Ventures

April 17, 2012

OAO Novatek rose for the first day in four after Russia’s second-biggest gas producer and OAO Gazprom, the nation’s gas export monopoly, said they’re considering joint ventures to develop Arctic gas fields and boost planned production of liquefied natural gas.

Novatek’s shares added 0.6 percent to 376.53 rubles as of 11:27 a.m. in Moscow, headed for their strongest gain since April 11.

To contact the reporter on this story: Alex Nicholson in Moscow at anicholson6@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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