PAO Novatek (NSTKF) Stock Analysis
Educational signal · not a buy or sell recommendation · How to read this
DELISTED
What happened to PAO Novatek (NSTKF) stock?
PAO Novatek (NSTKF) no longer trades on public markets. The figures below are historical and are not a current quote.
P/E 17.56 means the share price is 17.56 times one year of earnings per share; the S&P 500 usually sits near 20-25. Market cap $66.8B is the value of all shares combined. Beta 0.42: the stock has moved about 58% less than the S&P 500.
For informational purposes only. Not financial advice. Machine-generated analysis by Stock Expert AI — model gemini-2.0-flash, generated Mar 16, 2026. Editorial oversight is systemic, not page-by-page. Editorially accountable: Sedat ANAK, Founder and Editor-in-Chief. Data sources: Financial Modeling Prep, Yahoo Finance, SEC EDGAR
PAO Novatek (NSTKF). PAO NOVATEK is an independent Russian oil and gas company focused on the exploration, production, processing, and marketing of natural gas and liquid hydrocarbons, primarily in the Yamal-Nenets Autonomous Region. Market cap: $66.8B, Sector: Energy.
Last analyzed: Mar 16, 2026Analyst Coverage for NSTKF: NSTKF does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates NSTKF against Energy peers across nine fundamental dimensions and assigns a neutral fundamental signal based on the underlying data.
NSTKF: 2/2 scored disciplines lean bullish. Dominant signal: Seth Klarman bullish.
How is this calculated? →AI simulations built from the named investors' published principles. Not affiliated with, endorsed by, or the opinion of these individuals. How these lenses are built
PAO Novatek (NSTKF) Energy Operations & Outlook
PAO NOVATEK, a leading independent natural gas producer in Russia, focuses on exploration, production, and processing of natural gas and liquid hydrocarbons. Operating primarily in the Yamal-Nenets Autonomous Region, the company leverages its strategic partnerships and technological advancements to expand its global presence in the energy sector.
What Is the Investment Thesis for NSTKF?
The company's robust profit margin of 23.3% and gross margin of 80.5% indicate efficient operations and strong pricing power. A dividend yield of 8.27% offers an attractive income stream for investors. Growth catalysts include the ongoing development of the Arctic LNG 2 project and strategic partnerships aimed at diversifying into hydrogen and carbon capture technologies. However, investors may want to evaluate risks related to geopolitical factors and commodity price volatility. The company's beta of 0.42 suggests lower volatility compared to the broader market.
Based on FMP financials and quantitative analysis
NSTKF Key Highlights
Market capitalization of $66.8B reflects NOVATEK's significant presence in the energy sector.
- P/E ratio of 17.56 indicates that the company may be undervalued compared to its earnings.
- Profit margin of 23.3% demonstrates strong profitability and operational efficiency.
- Gross margin of 80.5% highlights the company's ability to maintain high profitability on its sales.
- Dividend yield of 8.27% provides an attractive income stream for investors.
Who Are NSTKF's Competitors?
NSTKF is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | MoonshotScore |
|---|---|---|---|---|
| AAGEF AAG Energy Holdings Limited | $0.17 | 0.00% | $569M | — |
| GENGF Gear Energy Ltd. | $0.33 | -4.58% | $87.8M | — |
| KGEIF Kolibri Global Energy Inc. | $4.35 | +2.35% | $155M | — |
| LUKOY PJSC Lukoil | $6.96 | -42.00% | $49.0B | — |
| OXY Occidental Petroleum Corporation | $61.16 | -0.23% | $60.8B | 785-pillar |
| FANG Diamondback Energy, Inc. | $202.84 | -1.24% | $57.1B | 675-pillar |
| EOG EOG Resources, Inc. | $147.46 | +0.30% | $78.5B | 945-pillar |
| DVN Devon Energy Corporation | $50.02 | +2.12% | $55.0B | 635-pillar |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are NSTKF's Key Strengths?
Large natural gas reserves in the Yamal-Nenets Autonomous Region.
- Integrated business model with operations across the value chain.
- Strategic partnerships with international companies and organizations.
- Strong financial performance with high profit and gross margins.
What Are NSTKF's Weaknesses?
Geopolitical risks associated with operating in Russia.
- Dependence on natural gas prices, which can be volatile.
- Limited diversification outside of natural gas and liquid hydrocarbons.
- Exposure to environmental regulations and concerns.
What Could Drive NSTKF Stock Higher?
NSTKF catalyst: Completion of the Arctic LNG 2 project, expected to significantly increase LNG production capacity by 2026.
- Strategic cooperation with the Japan Bank for International Cooperation to develop hydrogen and ammonia production projects.
- Expansion of natural gas exports to the Asia-Pacific region, driven by increasing energy demand.
- Development of new gas fields in the Yamal-Nenets Autonomous Region to increase reserves.
- Investment in carbon capture, utilization, and storage (CCUS) technologies to reduce environmental impact.
What Are the Key Risks for NSTKF?
Geopolitical risks associated with operating in Russia, including potential sanctions and political instability.
- Fluctuations in natural gas prices, which can impact revenue and profitability.
- Changes in government regulations and tax policies, which can affect the company's operations.
- Environmental risks associated with oil and gas production, including spills and emissions.
- Competition from other natural gas producers, which can reduce market share and pricing power.
What Are the Growth Opportunities for NSTKF?
- Arctic LNG 2 Project: The ongoing Arctic LNG 2 project represents a significant growth opportunity for NOVATEK. This project aims to develop the Utrenneye field and construct a large-scale LNG plant on the Gydan Peninsula. With an estimated production capacity of 19.8 million tons per year, Arctic LNG 2 will significantly increase NOVATEK's LNG output and strengthen its position in the global LNG market. The project is expected to commence production in 2024, with full capacity reached by 2026.
- Hydrogen and Ammonia Production: NOVATEK's strategic cooperation with the Japan Bank for International Cooperation opens avenues for growth in hydrogen and ammonia production. As the demand for clean energy increases, hydrogen and ammonia are expected to play a crucial role in decarbonizing various sectors. NOVATEK's involvement in these projects positions it to capitalize on the growing market for clean energy technologies. The global hydrogen market is projected to reach $201 billion by 2030.
- Carbon Capture, Utilization, and Storage (CCUS) Technologies: Investing in CCUS technologies presents another growth opportunity for NOVATEK. As companies face increasing pressure to reduce their carbon footprint, CCUS technologies are becoming increasingly important. NOVATEK's collaboration with JBIC includes projects focused on carbon capture, utilization, and storage, allowing the company to mitigate its environmental impact and potentially generate revenue from carbon credits. The CCUS market is projected to reach $7.77 billion by 2028.
- Expansion in the Asia-Pacific Region: NOVATEK has the opportunity to expand its presence in the Asia-Pacific region, a rapidly growing market for natural gas and LNG. Increasing energy demand in countries like China and India creates significant opportunities for NOVATEK to increase its sales and market share. By establishing strategic partnerships and investing in infrastructure, NOVATEK can capitalize on the growing demand for natural gas in the Asia-Pacific region. The Asia-Pacific LNG market is projected to be the largest globally, accounting for over 70% of global LNG demand.
- Development of New Gas Fields: NOVATEK can drive growth by continuing to explore and develop new gas fields in the Yamal-Nenets Autonomous Region and other regions. The company has a strong track record of discovering and developing new gas reserves. By investing in exploration and production activities, NOVATEK can increase its reserves base and ensure a sustainable supply of natural gas for its customers. The company's expertise in Arctic drilling and production gives it a competitive advantage in developing challenging gas fields.
What Are NSTKF's Competitive Advantages?
- Access to vast natural gas reserves in the Yamal-Nenets Autonomous Region.
- Strategic partnerships with key players in the energy industry.
- Expertise in Arctic drilling and production.
- Integrated business model encompassing exploration, production, processing, and marketing.
What Does NSTKF Do?
Founded in 1994 and headquartered in Tarko-Sale, Russia, PAO NOVATEK has grown to become one of the largest independent natural gas producers in the country. The company's core business revolves around the acquisition, exploration, development, production, processing, marketing, and export of natural gas and liquid hydrocarbons. Its principal assets are located in the Yamal-Nenets Autonomous Region, a prolific hydrocarbon province in Western Siberia. NOVATEK's product portfolio includes natural gas, stable gas condensate, refined products from gas condensate, liquefied petroleum gas (LPG), crude oil, naphtha, diesel fuel, jet fuel, and methanol. These products are sold across Russia, Europe, the Asia-Pacific region, the Middle East, and North America. Beyond its core operations, NOVATEK provides transportation services, geological and geophysical research, repair and maintenance of energy equipment, and operates retail gas stations. The company has been actively pursuing strategic collaborations to enhance its technological capabilities and expand into new energy sectors. A notable example is its cooperation agreement with the Japan Bank for International Cooperation, focusing on hydrogen and ammonia production, carbon capture technologies, and renewable energy projects in Russia. In October 2016, OAO NOVATEK officially changed its name to PAO NOVATEK, reflecting its continued evolution and strategic direction in the global energy market.
What Products and Services Does NSTKF Offer?
- Acquires and explores natural gas and liquid hydrocarbon reserves.
- Develops and produces natural gas and liquid hydrocarbons.
- Processes natural gas and liquid hydrocarbons into various products.
- Markets and exports natural gas, LPG, and other refined products.
- Provides transportation services for its products.
- Conducts geological and geophysical research.
- Offers repair and maintenance services for energy equipment.
- Operates retail gas stations.
How Does NSTKF Make Money?
- Generates revenue from the sale of natural gas, stable gas condensate, and refined products.
- Profits from the export of LNG to international markets.
- Provides transportation and other services to the energy industry.
- Forms strategic partnerships to expand into new energy sectors.
What Industry Does NSTKF Operate In?
PAO NOVATEK operates within the oil and gas exploration and production industry, a sector characterized by high capital expenditures and sensitivity to commodity prices. The global demand for natural gas is expected to grow, driven by increasing energy consumption in developing economies and the transition towards cleaner energy sources. NOVATEK competes with major players like LUKOY and Gazprom in the Russian market and faces international competition from companies such as AAGEF. The company's focus on LNG production positions it to capitalize on the growing global LNG market, estimated to reach $64.9 billion by 2026.
Who Are NSTKF's Key Customers?
- Industrial consumers of natural gas in Russia and Europe.
- Utility companies that distribute natural gas to residential and commercial customers.
- Petrochemical companies that use natural gas as a feedstock.
- International customers who purchase LNG for power generation and other uses.
Research confidence
Thin evidence — scoring coverage unknown. Treat this as a starting point, not a conclusion.
- ● Scoring coverage unknown
- ● Price 5 days old
- ● No filing on record
- ● No analyst coverage
Company Profile
PAO Novatek operates in the Oil & Gas Exploration & Production industry within the Energy sector. It is headquartered in Tarko-Sale, RU. The company is led by CEO Leonid Viktorovich Mikhelson. NSTKF has traded publicly since 2021.
How PAO Novatek Is Valued
PAO Novatek carries a market capitalization of $66.8B, placing it in the large-cap category.
Key Financial Metrics
Return on equity for PAO Novatek stands at 10.4%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 8.4%, showing how much profit it generates from its asset base. NSTKF trades at a trailing price-to-earnings ratio of 17.56, above the Energy sector average of ~15.80x. Its free cash flow yield is 9.7%, a gauge of the cash the business throws off relative to its market value. A current ratio of 1.82 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is 10.4%, the inverse of the P/E and a quick read on earnings relative to price.
NSTKF Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis
Bull Case vs Bear Case
Bull Case
- Large natural gas reserves in the Yamal-Nenets Autonomous Region.
- Integrated business model with operations across the value chain.
- Strategic partnerships with international companies and organizations.
- Strong financial performance with high profit and gross margins.
Bear Case
- Geopolitical risks associated with operating in Russia.
- Dependence on natural gas prices, which can be volatile.
- Limited diversification outside of natural gas and liquid hydrocarbons.
- Exposure to environmental regulations and concerns.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
NSTKF Latest News
No recent news available for NSTKF.
Leadership: Leonid Viktorovich Mikhelson
Chairman of the Management Board
Leonid Mikhelson is a prominent Russian businessman and the Chairman of the Management Board of PAO NOVATEK. He graduated from the Kuibyshev Civil Engineering Institute. Mikhelson has been instrumental in the growth and development of NOVATEK, transforming it into one of Russia's leading independent natural gas producers. He is known for his strategic vision and ability to forge partnerships with international companies. Mikhelson also holds significant stakes in other businesses, reflecting his diverse investment portfolio.
Track Record: Under Mikhelson's leadership, NOVATEK has achieved significant milestones, including the launch of the Yamal LNG project and the ongoing development of Arctic LNG 2. He has successfully navigated complex geopolitical challenges and fostered a culture of innovation within the company. His strategic decisions have positioned NOVATEK as a key player in the global LNG market, driving substantial growth and shareholder value.
NSTKF OTC Market Information
The OTC Other tier represents the lowest tier of the OTC market, indicating that PAO NOVATEK (NSTKF) does not meet the listing requirements of higher tiers like OTCQX or OTCQB. Companies in this tier may have limited financial disclosure, be undergoing restructuring, or face regulatory issues. Investing in OTC Other stocks carries significantly higher risk compared to stocks listed on major exchanges like the NYSE or NASDAQ due to the lack of stringent listing standards and regulatory oversight. This tier often includes companies with limited operating history or those that may not be current in their reporting requirements.
- OTC Tier: OTC Other
- Limited financial disclosure increases the risk of investing due to lack of transparency.
- Low trading volume and wide bid-ask spreads can lead to difficulties in buying or selling shares.
- Potential for price manipulation due to less regulatory oversight.
- Higher risk of fraud or scams compared to listed exchanges.
- Geopolitical risks associated with the company's operations in Russia.
- Verify the company's registration and legal status.
- Obtain and review audited financial statements, if available.
- Assess the company's management team and their track record.
- Research the company's industry and competitive landscape.
- Evaluate the company's risk factors and potential liabilities.
- Consult with a financial advisor before investing.
- Understand the OTC market and its associated risks.
- Established operations in the oil and gas industry.
- Strategic partnerships with reputable international companies.
- Significant natural gas reserves in the Yamal-Nenets Autonomous Region.
- Publicly available information, such as press releases and company presentations.
- Presence of a recognized CEO and management team.
NSTKF Energy Stock FAQ
What happened to PAO Novatek (NSTKF) stock?
PAO Novatek (NSTKF) no longer trades on public markets. The figures below are historical and are not a current quote.
Can I still buy NSTKF shares?
No. NSTKF stopped trading on public markets, so the shares are not available through a broker. Anything you see quoted for NSTKF elsewhere is historical data, not a live market.
Are the figures on this page current?
No. Every number here is the last value recorded before NSTKF stopped trading. Nothing on this page updates, and none of it is a current quote.
Why does this page still exist?
Because people still search for what happened to PAO Novatek. An archived profile that states the delisting plainly is more useful than a dead link — provided it is labelled as history, which is what this page does.
What does PAO Novatek do?
PAO NOVATEK is an independent Russian oil and gas company primarily engaged in the exploration, production, processing, and marketing of natural gas and liquid hydrocarbons.
What do analysts say about NSTKF stock?
Key valuation metrics to consider include the company's P/E ratio of 17.56, which may indicate undervaluation, and its dividend yield of 8.27%, which offers an attractive income stream. Growth considerations include the Arctic LNG 2 project and expansion into new energy sectors.
What are the main risks for NSTKF?
The main risks for PAO NOVATEK include geopolitical factors associated with operating in Russia, which can lead to sanctions and political instability.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- OTC market data may be less reliable than data from major exchanges.
- Financial information for OTC stocks may be limited or unaudited.
- Geopolitical risks associated with operating in Russia may impact the company's performance.