Article

Novatek reported a 60% decrease in profit for 2025, with net income for shareholders dropping to $2.37 billion from $6.38 billion in 2024. The decline was significantly impacted by $3.9 billion in non-cash items.

The company's Arctic LNG 2 project began regular exports to China last year, despite Western sanctions aimed at reducing Russian oil and gas revenues. Trading routes have shifted to the Suez Canal due to severe winter conditions affecting the Northern Sea Route. Russia continues to trade LNG with China, supported by two ice-class tankers, enhancing export capabilities despite sanctions.