MOSCOW, February 7. /TASS/. Novatek has applied for delisting from the London Stock Exchange (LSE) starting March 8, the company said in a statement on Tuesday.

"In connection with the actual suspension of trading of the company’s depositary receipts from 3 March 2022, Novatek hereby notifies of its request to the UK Financial Conduct Authority (FCA) to cancel the listing of the company’s global depositary receipts," the statement reads.

Following the LSE listing cancellation, Novatek will continue listing its shares on the regulated market of the Moscow Exchange.

"The GDR program remains in force and is operational. The GDR holders may exercise their rights under the securities subject to applicable Russian law," according to the statement.

Russia’s largest independent producer of natural gas, Novatek is engaged in exploration, production, processing and marketing of gas and liquid hydrocarbons. Deposits and license areas of the company are located in Russia’s Yamalo-Nenets autonomous district.