28 Feb 2014 15:06

Novatek terminates Sibneftegas gas purchase contract, Itera supply contract

MOSCOW. Feb 28 (Interfax) - The asset swap that took place at the end of last year between Novatek and Rosneft in which the Russian companies exchanged stake in SeverEnergia and Sibneftegas, stipulates the termination of old contracts for product supplies, Novatek CEO Leonid Mikhelson said during a conference call with investors.

"All contracts for purchasing gas from Sibneftegas and supplying Itera with gas were terminated," he said.

Discussing the role of the weather on production, Novatek Financial Director Mark Gyetvay said the company could not control the weather, but despite a warmer December, the company maintained production plans and sustained production volumes.