Russian Novatek's net profit for 2017 fell by 39.3 percent to 156.4 billion rubles ($2.8 billion), compared to the previous year, the company said late Wednesday.
Novatek said that the results reflect its year earlier sale of a 9.9 percent stake in the Yamal LNG project. The company sold the stake to China's Silk Road Fund last year.
Total sales of hydrocarbons rose year-on-year from 537.4 billion to 583.1 billion rubles in 2017, the company said.
In 2017, natural gas sales volumes amounted to 65 billion cubic meters, representing a 0.5 percent increase compared to 2016. This was due to the slight increase in volumes sold in the Russian Federation, as well as the commencement of sales of LNG purchased from its joint venture Yamal LNG to international markets from December 2017.
By Murat Temizer
Anadolu Agency
energy@aa.com.tr