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62-455: In 2006, the company produced roughly thirty billion cubic metres (1.1 trillion cubic feet) of natural gas. By 2010, production had grown to 37.2 × 10 ^  m (1.31 × 10 ^  cu ft), and in 2011 to 52.9 × 10 ^  m (1.87 × 10 ^  cu ft) In 2010, Novatek supplied 13% of the domestic market and accounted for 32% of non-Gazprom production. Total reserves amount to 9.4 × 10 ^   BOE (5.8 × 10  GJ ) using

124-408: A V-2 rocket . Nonetheless, trading continued in the house's basement. After decades of uncertain if not turbulent times, stock market business boomed in the late 1950s. This spurred multiple officials to find new, more suitable accommodation. The work on the new Stock Exchange Tower began in 1967. The Exchange's new 321 feet (98 metres) high building had 26 storeys with council and administration at

186-599: A board of directors drawn from the Exchange's executive, customer, and user base; and the trading name became "The London Stock Exchange". The FTSE 100 Index (pronounced "Footsie 100") was launched by a partnership of the Financial Times and the Stock Exchange on 3 January 1984. This turned out to be one of the most useful indices of all, and tracked the movements of the 100 leading companies listed on

248-738: A liquefied natural gas plant in Yamalo-Nenets Autonomous Okrug . Total S.A. will also be involved as a 20% shareholder. It was announced in July 2010 that, together with Total S.A., Novatek was developing the Termokarstovoye field in Yamal. In December 2010, Novatek bought a 51% stake in Sibneftegaz from Gazprombank ( Itera owns 49% of the shares). Sibneftegaz holds licences for exploration and production in

310-637: A 51% stake in Yamal LNG from Volga Resources , which controls the giant South-Tambeyskoye field . On 2 July 2010, Novatek purchased Tambeyneftegas, which holds the licence to the Arctic Malo-Yamalskoye field , located on the Yamal Peninsula and holding 161 × 10 ^  m (5.7 × 10 ^  cu ft) of natural gas and 14.4 million tonnes of gas condensate. In June 2010 Novatek and Gazprom announced plans to build

372-583: A clause preventing "unchartered" companies from forming. After the Seven Years' War (1756–1763), trade at Jonathan's Coffee House boomed again. In 1773, Jonathan, together with 150 other brokers, formed a club and opened a new and more formal "Stock Exchange" in Sweeting's Alley. This now had a set entrance fee, by which traders could enter the stock room and trade securities. It was, however, not an exclusive location for trading, as trading also occurred in

434-772: A number of European suppliers for its LNG projects in the Gulf of Ob had traded with it, seemingly in contravention of EU sanctions imposed in the wake of the 2022 Russian invasion of Ukraine . The total value of goods supplied was greater than 500m€, and the investigation found goods from Italy, France, Germany, the Netherlands and Spain. In May 2024, Novatek launched the North Chaselskoye gas and condensate field in West Siberia , with an annual capacity of 3 billion cubic meters, aimed at supporting domestic needs and

496-403: A regulated stock market, which had teething problems in the shape of unlicensed brokers. In order to regulate these, Parliament passed an Act in 1697 that levied heavy penalties, both financial and physical, on those brokering without a licence. It also set a fixed number of brokers (at 100), but this was later increased as the size of the trade grew. This limit led to several problems, one of which

558-482: A thousand members quit the Exchange between 1914 and 1918. When peace returned in November 1918, the mood on the trading floor was generally cowed. In 1923, the Exchange received its own coat of arms , with the motto Dictum Meum Pactum , My Word is My Bond. In 1937, officials at the Exchange used their experiences from World War I to draw up plans for how to handle a new war. The main concerns included air raids and

620-555: Is classified as a Multilateral Trading Facility (MTF) under the 2004 MiFID directive, and as such it is a flexible market with a simpler admission process for companies wanting to be publicly listed. The securities available for trading on LSE: Through the Exchange's Italian arm, Borsa Italiana , the London Stock Exchange Group as a whole offers clearing and settlement services for trades through CC&G (Cassa di Compensazione e Garanzia) and Monte Titoli.

682-527: Is million barrels equivalent per day, MMboed (or MMBOED, MMboepd, where MM denotes a million ), used to measure daily production and consumption, and the BBOe (also BBOE) or billion barrels of oil equivalent, representing 10 barrels of oil, used to measure petroleum reserves . Metric regions commonly use the tonne of oil equivalent (toe), or more often million toe (Mtoe). Since this is a measurement of mass, any conversion to barrels of oil equivalent depends on

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744-469: Is necessarily approximate as various grades of oil and gas have slightly different heating values. If one considers the lower heating value instead of the higher heating value , the value for one BOE would be approximately 5.4 GJ (see tonne of oil equivalent ). Typically 5,800 cubic feet of natural gas or 58 CCF are equivalent to one BOE. The USGS gives a figure of 6,000 cubic feet (170 cubic metres) of typical natural gas. A commonly used multiple of

806-685: Is the Groups Central Counterparty and covers multiple asset classes throughout the Italian equity, derivatives and bond markets. CC&G also clears Turquoise derivatives. Monte Titoli is the pre-settlement, settlement, custody and asset services provider of the Group. Monte Titoli operates both on-exchange and OTC trades with over 400 banks and brokers. The LSE's trading platform is its own Linux -based edition named Millennium Exchange . Their previous trading platform TradElect

868-496: Is used by oil and gas companies in their financial statements as a way of combining oil and natural gas reserves and production into a single measure, although this energy equivalence does not take into account the lower financial value of energy in the form of gas. The U.S. Internal Revenue Service defines a BOE as equal to 5.8 million BTU . (5.8 × 10 ^   BTU 59°F  equals 6.1178632 × 10  J, about 6.1 GJ [ HHV ], or about 1.7  MWh .) The value

930-588: The Antwerp Bourse . It was opened by Elizabeth I of England in 1571. During the 17th century, stockbrokers were not allowed in the Royal Exchange due to their perceived rude manners. They had to operate from other establishments in the vicinity, notably Jonathan's Coffee-House . At that coffee house, a broker named John Castaing started listing the prices of a few commodities including salt, coal, paper, and exchange rates in 1698. Originally, this

992-537: The Securities and Exchange Commission methodology. Regarding dry sales gas, Novatek operates only in the domestic market, which is characterized by artificially low prices. Novatek's earnings before interest, taxes, depreciation, and amortization and net profit margin in 2011 were 49% and 32%, respectively. The major gas field owned by Novatek is the Yurkharovskoye field . On 27 May 2009, Novatek bought

1054-401: The "Spanish panic" hit the markets, followed by a second one two years later. By June 1853, both participating members and brokers were taking up so much space that the Exchange was now uncomfortably crowded, and continual expansion plans were taking place. Having already been extended west, east, and northwards, it was then decided the Exchange needed an entire new establishment. Thomas Allason

1116-409: The 2020 Office for National Statistics report, approximately 12% of UK-resident individuals reported having investments in stocks and shares. According to a 2020 Financial Conduct Authority report, approximately 15% of British adults reported having investments in stocks and shares. The Royal Exchange had been founded by English financier Thomas Gresham and Sir Richard Clough on the model of

1178-592: The BOE is the kilo barrel of oil equivalent (kboe or kBOE), which is 1,000 BOE. This should be avoided because it might lead to the use of MBOE ( mega barrel of oil equivalent) but MBOE actually means thousand BOE. This potential confusion arises due to the use of Roman numeral M (one thousand) for natural gas production and MM (one million, even though MM means two thousand). In the S.I. (metric system) M means million, but cubic feet and barrels are not S.I. units, so S.I. prefixes should not be used. Another commonly used multiple

1240-702: The CEO, with around 28% of the shares, Gennady Timchenko 's Volga Group with 23% of shares, Total S.A. with 16%, and Gazprom with 9.4%. On July 16, 2014, Novatek was placed on the Sectoral Sanctions Identification list by the U.S. Department of the Treasury following Russia’s continued attempts to destabilize eastern Ukraine . On January 29, 2018, CEO Leonid Mikhelson was named in a Countering America's Adversaries Through Sanctions Act report delivered to Congress. On April 26, 2022,

1302-760: The Electronic Trading Service (SETS) was launched, bringing greater speed and efficiency to the market. Next, the CREST settlement service was launched. In 2000, the LSE's shareholders voted to become a public limited company, London Stock Exchange plc. The LSE also transferred its role as the United Kingdom's listing authority to the Financial Services Authority . EDX London , an international equity derivatives business,

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1364-450: The Exchange was progressively becoming an accepted part of the financial life in the city. In spite of continuous criticism from newspapers and the public, the government used the Exchange's organised market (and would most likely not have managed without it) to raise the enormous amount of money required for the wars against Napoleon. After the war and facing a booming world economy, foreign lending to countries such as Brazil, Peru and Chile

1426-591: The Exchange. On 20 July 1990, a bomb planted by the Provisional Irish Republican Army (IRA) exploded in the men's toilets behind the visitors' gallery. The area had already been evacuated and nobody was injured. About 30 minutes before the blast at 8:49 a.m., a man who said he was a member of the IRA told Reuters that a bomb had been placed at the exchange and was about to explode. Police officials said that if there had been no warning,

1488-516: The LSE merged with Borsa Italiana , creating London Stock Exchange Group (LSEG). The Group's headquarters are in Paternoster Square . Paternoster Square was the initial target for the protesters of Occupy London on 15 October 2011. Attempts to occupy the square were thwarted by police. Police sealed off the entrance to the square as it is private property, a High Court injunction having previously been granted against public access to

1550-691: The LSE: the main market and the alternative investment market. The main market is home to over 1,300 large companies from 60 countries. The FTSE 100 Index ("footsie") is the main share index of the 100 most highly capitalised British companies listed on the Main Market. The Alternative Investment Market is LSE's international market for smaller companies. A wide range of businesses including early-stage, venture capital -backed, as well as more-established companies join AIM seeking access to growth capital. The AIM

1612-467: The Polish government imposed sanctions against NOVATEK and its Polish subsidiary Novatek Green Energy. In October, external management was introduced at the subsidiary. Leonid Mikhelson promised to appeal this decision in court. In April 2023, the Polish authorities announced the sale of the company's assets. Novatek Green Energy's revenue in 2021 was $ 382 million. Sanctions against Russian banks have caused

1674-560: The Rotunda of the Bank of England. Fraud was also rife during these times and in order to deter such dealings, it was suggested that users of the stock room pay an increased fee. This was not met well and ultimately, the solution came in the form of annual fees and turning the Exchange into a Subscription room. The Subscription room created in 1801 was the first regulated exchange in London, but

1736-801: The Yamal-Nenets region, including for the Beregovoye field , Pyreinoye field , Zapadno-Zapolyarnoye field , and the Khadyryakhinskiy licence area. Sibneftegaz owns rights to develop oil and gas condensate fields with a total resource of 395.53 bcm of natural gas and 8.44 million tonnes of gas condensate. In 2011, Novatek was awarded licences to develop the Geofizichenskoye field , Salmanovskoye (Utrenneye) field , Severo-Obskoye field , and Vostochno-Tambeiskoye field . In addition, Novatek acquired these companies: It

1798-617: The auction sale was the participation of Novatek structures only. Novatek has been ranked as being among the 13th-best of 92 oil, gas, and mining companies on indigenous rights in the Arctic. In 2021, Novatek was ranked no. 19 in the Arctic Environmental Responsibility Index (AERI) that covers 120 oil, gas, and mining companies involved in resource extraction north of the Arctic Circle. In 2022,

1860-513: The cancellation of South Korean contracts to build Arc7 tankers, needed for the Arctic 2 LNG plant, when payment deadlines were missed in May 2022. International sanctions against Arctic development impacted the Arctic 2 LNG plant development and its associated infrastructure when the USA sanctioned in November 2023 two vessels designed to serve as transhipment terminals. In September 2021, CFO Mark Gyetvay

1922-463: The committee and Parliament , respectively. The Stock Exchange ended up being closed from the end of July until the New Year, causing street business to be introduced again, as well as the "challenge system". The Exchange was set to open again on 4 January 1915 under tedious restrictions: transactions were to be in cash only. Due to the limitations and challenges on trading brought by the war, almost

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1984-519: The company's revenue amounted to 805 billion rubles. Subsequent to the 24 February 2022 Russian invasion of Ukraine , on 3 March the London Stock Exchange declared it would suspend trading in GDR securities for Russian firms, and so Novatek was affected. Later on 7 February 2023 Novatek cancelled its (suspended) listing on the LSE. Novatek exploitation of Arctic energy resources include

2046-461: The concerns for air raids were greater than ever. Eventually, on the night of 29 December 1940, one of the greatest fires in London's history took place. The Exchange's floor was hit by a clutch of incendiary bombs , which were extinguished quickly. Trading on the floor was now drastically low and most was done over the phone to reduce the possibility of injuries. The Exchange was only closed for one more day during wartime, in 1945 due to damage from

2108-480: The density of the oil in question, as well as the energy content. Typically 1 tonne of oil has a volume of 1.08 to 1.19 cubic metres (6.8 to 7.5 bbl). The United States EIA suggests 1 toe has an average energy value of 39.68 million British thermal units (41.9 GJ). London Stock Exchange The London Stock Exchange ( LSE ) is a stock exchange based in London , England. As of August 2023,

2170-465: The earliest evidence of organised trading in marketable securities in London. After Gresham's Royal Exchange building was destroyed in the Great Fire of London , it was rebuilt and re-established in 1669. This was a move away from coffee houses and a step towards the modern model of stock exchange. The Royal Exchange housed not only brokers but also merchants and merchandise. This was the birth of

2232-470: The financial industry "and the corrosive impacts of the ... sector on the world we live in" and activists also blocked entrances to HM Treasury and the Goldman Sachs office on Fleet Street . On 3 March 2022 the LSE declared it would suspend trading in GDR securities for Russian firms, subsequent to the 2022 Russian invasion of Ukraine . There are two main markets on which companies trade on

2294-686: The financial markets in the UK in 1986. The phrase "Big Bang" was coined to describe measures, including abolition of fixed commission charges and of the distinction between stockjobbers and stockbrokers on the London Stock Exchange, as well as the change from an open outcry to electronic, screen-based trading . In 1995, the Exchange launched the Alternative Investment Market , the AIM, to allow growing companies to expand into international markets. Two years later,

2356-540: The floor. Second, in March the London Stock Exchange formally merged with the eleven British and Irish regional exchanges, including the Scottish Stock Exchange . This expansion led to the creation of a new position of chief executive officer ; after an extensive search this post was given to Robert Fell. There were more governance changes in 1991, when the governing Council of the Exchange was replaced by

2418-490: The human toll would have been very high. The explosion ripped a hole in the 23-storey building in Threadneedle Street and sent a shower of glass and concrete onto the street. The long-term trend towards electronic trading platforms reduced the Exchange's attraction to visitors, and although the gallery reopened, it was closed permanently in 1992. The biggest event of the 1980s was the sudden de-regulation of

2480-420: The long-term strategies of the joint company is to expand Borsa Italiana's efficient clearing services to other European markets. In 2007, after Borsa Italiana announced that it was exercising its call option to acquire full control of MBE Holdings; thus the combined Group would now control Mercato dei Titoli di Stato, or MTS. This merger of Borsa Italiana and MTS with LSE's existing bond-listing business enhanced

2542-659: The planned Arctic LNG 1, 2 and 3 liquefied natural gas plants which are being developed so that Novatek will become the main player in the Liquefied natural gas industry in Russia with plans to generate LNG capacity of 70 million tons per annum (MTPA) by 2030. The export of the Arctic LNG requires building Arc6 and Arc7 ice breaking LNG carriers. Novatek was in the news in March 2024 when the Moscow Times disclosed that

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2604-535: The rest of Great Britain also benefited from the economic boom. Two other cities in particular showed great business development: Liverpool and Manchester. Consequently, in 1836 both the Manchester and Liverpool stock exchanges were opened. Some stock prices sometimes rose by 10%, 20% or even 30% in a week. These were times when stockbroking was considered a real business profession, and such attracted many entrepreneurs. Nevertheless, with booms came busts, and in 1835

2666-510: The same time in Moscow. Investigators have not found evidence of third parties in spite of the case not looking like a typical murder-suicide. Novatek issued a statement casting doubt on a murder-suicide theory. Barrel of oil equivalent The barrel of oil equivalent ( BOE ) is a unit of energy based on the approximate energy released by burning one barrel (42 US gallons, 35 imp gal or about 159 litres) of crude oil . The BOE

2728-532: The square. The protesters moved nearby to occupy the space in front of St Paul's Cathedral . The protests were part of the global Occupy movement . On 25 April 2019, the final day of the Extinction Rebellion disruption in London, 13 activists glued themselves together in a chain, blocking the entrances of the LSE. The protesters were all later arrested on suspicion of aggravated trespass. Extinction Rebellion had said its protesters would target

2790-418: The subsequent bombing of the Exchange's perimeters, and one suggestion was a move to Denham , Buckinghamshire. This however never took place. On the first day of September 1939, the Exchange closed its doors "until further notice" and two days later World War II was declared. Unlike in the prior war, the Exchange opened its doors again six days later, on 7 September. As the war escalated into its second year,

2852-495: The top, and middle floors let out to affiliate companies. Queen Elizabeth II opened the building on 8 November 1972; it was a new City landmark, with its 23,000 sq ft (2,100 m ) trading floor. 1973 marked a year of changes for the Stock Exchange. First, two trading prohibitions were abolished. A report from the Monopolies and Mergers Commission recommended the admittance of both women and foreign-born members on

2914-596: The total market value of all companies trading on the LSE stood at $ 3.18 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cathedral . Since 2007, it has been part of the London Stock Exchange Group (LSEG, which the exchange also lists (ticker symbol LSEG)). Despite a post- Brexit exodus of stock listings from the London Stock Exchange, the LSE was the most valued stock exchange in Europe as of 2023. According to

2976-446: The transformation was not welcomed by all parties. On the first day of trading, non-members had to be expelled by a constable. In spite of the disorder, a new and bigger building was planned, at Capel Court. William Hammond laid the first foundation stone for the new building on 18 May. It was finished on 30 December when "The Stock Exchange" was incised on the entrance. In the Exchange's first operating years, on several occasions there

3038-529: The upcoming Murmansk LNG project in northwestern Russia . This move, a response to EU and US sanctions, shifts focus from Arctic operations to ice-free zones in the northwest, aligning with Gazprom's strategy to focus on the domestic market amid geopolitical changes. Novatek is a public company with shares traded on the Moscow stock exchange. The company delisted from the London Stock Exchange in March 2023. The major shareholders of Novatek are Leonid Michelson ,

3100-522: The world, both the City and the Stock Exchange were hit hard by the outbreak of World War I in 1914. Due to fears that borrowed money was to be called in and that foreign banks would demand their loans or raise interest, prices surged at first. The decision to close the Exchange for improved breathing space and to extend the August Bank Holiday to prohibit a run on banks, was hurried through by

3162-476: Was a growing market. Notably, the Foreign Market at the Exchange allowed for merchants and traders to participate, and the Royal Exchange hosted all transactions where foreign parties were involved. The constant increase in overseas business eventually meant that dealing in foreign securities had to be allowed within all of the Exchange's premises. Just as London enjoyed growth through international trade,

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3224-772: Was announced in 2013 that Novatek would develop the Sabetta port on the Yamal Pensinsula, in a joint project with the Russian government to allow LNG exports by sea. The final investment decision on Novatek's Arctic LNG 2 project on the Gyda Peninsula was made in March 2019. In September 2021, Yamal SPG Resurs of Novatek bought Arkticheskoye and Neytinskoye fields for 10,88 and 2,28 billion dollars respectively for further geological study of subsurface resources, exploitation and production. A very special term of

3286-582: Was announced that the LSE would merge with the Deutsche Börse ; however this fell through. On 23 June 2007, the LSE announced that it had agreed on the terms of a recommended offer to the shareholders of the Borsa Italiana S.p.A. The merger of the two companies created a leading diversified exchange group in Europe. The combined group was named the London Stock Exchange Group, but still remained two separate legal and regulatory entities. One of

3348-482: Was appointed as the main architect, and in March 1854, the new brick building inspired from the Great Exhibition stood ready. This was a huge improvement in both surroundings and space, with twice the floor space available. By the late 1800s, the telephone, ticker tape , and the telegraph had been invented. Those new technologies led to a revolution in the work of the Exchange. As the financial centre of

3410-620: Was arrested in the United States. He allegedly hid $ 93M worth of assets in offshore accounts. If convicted, he could face a decades-long prison sentence. He has since been released on a $ 80M bond. On March 28, 2023, a jury found Gyetvay guilty of hiding his foreign assets, defrauding the IRS, and failing to file tax returns between 2005 and 2015. He faces up to five years for every first two counts and an additional year for every return not filed. The verdict will be delivered on September 21. Gyetvay

3472-484: Was based on Microsoft's .NET Framework , and was developed by Microsoft and Accenture. Despite TradElect only being in use for about two years, after suffering multiple periods of extended downtime and unreliability the LSE announced in 2009 that it was planning to switch to Linux in 2010. The main market migration to MillenniumIT technology was successfully completed in February 2011. The previous system, SETS,

3534-474: Was created in 2003 in partnership with OM Group. The Exchange also acquired Proquote Limited, a new generation supplier of real-time market data and trading systems. The old Stock Exchange Tower became largely redundant with Big Bang, which deregulated many of the LSE's activities: computerised systems and dealing rooms replaced face-to-face trading. In 2004, the LSE moved to a brand-new headquarters in Paternoster Square , close to St Paul's Cathedral . In 2007,

3596-626: Was introduced in October 1997 and used until 2007. The London Market Information Link, a COBOL application running on a HP Tandem server was used to disseminate market data to terminals before being replaced by Infolect. The LSE facilitates stock listings in a currency other than its "home currency". Most stocks are quoted in GBP but some are quoted in EUR while others are quoted in USD. On 3 May 2000, it

3658-585: Was no clear set of regulations or fundamental laws for the Capel Court trading. In February 1812, the General Purpose Committee confirmed a set of recommendations, which later became the foundation of the first codified rule book of the Exchange. Even though the document was not a complex one, topics such as settlement and default were, in fact, quite comprehensive. With its new governmental commandments and increasing trading volume,

3720-411: Was not a daily list and was only published a few days of the week. This list and activity was later moved to Garraway's coffee house. Public auctions during this period were conducted for the duration that a length of tallow candle could burn; these were known as "by inch of candle" auctions. As stocks grew, with new companies joining to raise capital, the royal court also raised some monies. These are

3782-540: Was sentenced to 86 months incarceration on that date. In April 2022, former Deputy Chairman on the Board of Directors, Sergey Protosenya , reportedly stunned his wife and daughter with an axe and then stabbed them to death before hanging himself, at a luxury villa in Lloret de Mar , Spain. He had a fortune of over $ 400 million. Two other similar reports of gas company executives killing their wives and children emerged around

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3844-600: Was that traders began leaving the Royal Exchange, either by their own decision or through expulsion, and started dealing in the streets of London. The street in which they were now dealing was known as ' Exchange Alley ', or 'Change Alley'; it was suitably placed close to the Bank of England . Parliament tried to regulate this and ban the unofficial traders from the Change streets. Traders became weary of "bubbles" when companies rose quickly and fell, so they persuaded Parliament to pass

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