Management of Novatek to recommend dividends for 2014 without the loss from currency exchange rates of “Yamal LNG” project – Mikhelson

The management of Novatek will recommend the dividends for 2014 without taking into account the loss from the currency exchange rates of the “Yamal LNG” project, the head of Novatek, L. Mikhelson, said.

He said that the negative influence on the financial results of the company in 2014 was caused by the loss from the currency exchange rates, a significant part of which appeared due to the “Yamal LNG” project. But in future the company will make profit from this project in foreign currency, Mr. Mikhelson said.

“So now the management will recommend the Board of Directors and shareholders that they should approved the dividends for 2014 without the loss from the currency exchange rates”, he said.

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