The company is due to report quarterly results on Wednesday.
Novatek's earnings before interest, taxes, depreciation and amortization (EBITDA) jumped by almost 19 percent in October - December, while net profit likely fell by a quarter from the year-earlier period due to a stronger euro, analysts forecast.
Urals blend oil prices increased by around 13 percent in the last quarter 2017 year-on-year thanks to a global deal to cut oil production.
Novatek's debt is mainly denominated in euro, while the company reports its earnings in roubles.
"We expect strong numbers propelled by a benign macro environment (a further oil price rally in the fourth quarter, along with a positive export duty lag) and consolidation of newly acquired gas producing assets and the launch of Yamal LNG's first train," Aton brokerage said in a note to clients.