According to the Wall Street Journal, NOVATEK is a leading natural gas producer based in Russia. The company, founded in 1994, is primarily focused on exploration, production, processing and marketing of natural gas and liquid hydrocarbons. While the majority of its activities are centered in the Yamal-Nenets Autonomous Region, an area renowned for its natural gas reserves, NOVATEK has also recently expanded into the global gas market through the successful launch of its Yamal LNG project in 2017. As the world's largest natural gas producing area, the Yamal-Nenets Autonomous Region accounts for approximately 80% of Russia's natural gas production and 15% of the world's gas production.