Novatek expects year-on-year profit growth of 25% by 2021

Novatek in 2023 intends to increase net profit and revenue by 25% to the level of 2021, said Leonid Mikhelson, the head of Novatek. As a result, the volume of dividend payments will also increase, which will amount to 50% of profits. Comparison with 2021 is more correct because 2022 was an anomalous year for the industry - gas companies made record profits then due to soaring gas prices, Mikhelson explained.