LEONID MIKHELSON

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LEONID MIKHELSON BIOGRAPHY
Leonid Mikhelson, born on August 11, 1955, in Kaspiysk, Dagestan, Russia, is a Russian billionaire and industrialist best known as the CEO, chairman, and major shareholder of Novatek, one of Russia’s largest natural gas producers. With a fortune that has placed him among the richest individuals in Russia and globally, Mikhelson is also a key figure in the energy and petrochemical industries. As of 2023, his net worth is estimated at over $30 billion.
Mikhelson’s rise to prominence in the Russian business world can be traced back to his roots in the Soviet Union’s industrial sector. He studied civil engineering at the Kuybyshev Engineering and Construction Institute, specializing in industrial construction, which laid the foundation for his career in energy and infrastructure development. After graduating in 1977, Mikhelson began his career as a foreman at a construction and assembly company in Tyumen, Siberia, which was involved in building pipelines for the natural gas industry.
In the late 1980s, as the Soviet Union began to collapse and its state-owned assets started to be privatized, Mikhelson capitalized on the opportunities this created. In 1987, he became the chief engineer at Ryazantruboprovodstroy, a company that was involved in the construction of natural gas pipelines. He was quickly promoted to general director and then transitioned to leading Koksochimmontazh, a construction firm involved in building gas pipelines, oil refineries, and infrastructure projects across Russia.
Mikhelson’s major business breakthrough came in 1994 when he became involved with Novatek, which was then a small gas company. He played a crucial role in transforming the company into a key player in Russia’s natural gas sector. Novatek grew rapidly under Mikhelson’s leadership, benefiting from the vast reserves of natural gas in the Yamal Peninsula and other parts of northern Russia. Today, Novatek is Russia’s second-largest natural gas producer, after Gazprom, and a global player in the liquefied natural gas (LNG) market.
Novatek’s success has been driven by its major LNG projects, including the Yamal LNG plant, one of the largest LNG facilities in the world. Mikhelson has been instrumental in securing foreign partnerships for Novatek, including deals with Total from France and China National Petroleum Corporation (CNPC). These partnerships have helped Novatek expand its operations globally and further its ambitions to challenge Gazprom’s dominance in Russia’s gas market.
In addition to his leadership of Novatek, Mikhelson has significant investments in the petrochemical industry. He is the chairman of Sibur, Russia’s largest petrochemical company, which produces plastics, rubbers, and other products derived from oil and gas. Through Sibur, Mikhelson has helped modernize Russia’s petrochemical sector, making the company one of the most efficient in the world. Gennady Timchenko, another Russian billionaire, is one of Mikhelson’s key partners in both Novatek and Sibur.
Outside of his business ventures, Mikhelson is known for his philanthropic efforts, particularly in the arts. He founded the V-A-C Foundation, a contemporary art foundation that supports young artists and promotes cultural exchange between Russia and the international art community. The foundation is involved in organizing exhibitions, workshops, and collaborations with leading art institutions worldwide.
Mikhelson keeps a relatively low public profile and is known for his private and reserved personality. Unlike many other Russian oligarchs, he avoids the spotlight and rarely gives interviews. Despite this, his influence in the Russian energy sector is undeniable, and he remains a key figure in the country’s economic landscape.
Leonid Mikhelson’s success is rooted in his strategic leadership, his ability to navigate Russia’s evolving business environment, and his vision for expanding Russia’s presence in the global energy market. His journey from a construction engineer to one of the most powerful figures in the energy industry is a testament to his entrepreneurial skill and ambition.