Novatek's Profit Falls 3.1% Amid Higher Revenue

Russia's largest independent natural gas producer, Novatek, saw its net profit decline by 3.1% year on year to 218.7 billion rubles ($2.8 billion) in the first half of 2026.

The company reported higher revenue, with a 3.9% increase to 836.3 billion rubles, but adjusted earnings before interest, taxes, depreciation and amortization (including its share of joint ventures) dropped by 8.8% to 430.4 billion rubles.

Novatek is a leading producer of liquefied natural gas (LNG) in Russia, with European Union imports from its Yamal LNG project reaching a record 9.9 million metric tons during the same period.