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NOVATEK BOARD OF DIRECTORS APPROVES CORPORATE GOVERNANCE PROGRAM
25 March 2005
Moscow, 25 March 2005. The Board of Directors of OAO NOVATEK, one of the leading natural gas producers in Russia, approved the implementation and establishment of three Board committees, Audit, Strategy and Investment and Corporate Governance, in accordance with Corporate Governance best practices and standards.
Duties of the Audit Committee will include management and review of the relationship with the Company’s independent Auditor, approval of the Company’s financial statements and the establishment, development and monitoring the Company’s system of internal controls including overseeing the internal audit function. The Strategy and Investment Committee will consider large investment projects and strategic capital financing, while the Corporate Governance Committee will focus on further development of the Company’s Corporate Governance program and supervise its implementation.
The new Board Committees will be headed by Independent Directors, Anatoly Mikhailovich Brekhuntsov, Chairman of the Strategy and Investment and Corporate Governance Committees and Vladimir Aleksandrovich Dmitriev, Chairman of the Audit Committee.
MR. ANATOLY MIKHAILOVICH BREKHUNTSOV
Mr. Anatoly Mikhailovich Brekhuntsov was born in 1941. In 1963, he graduated from Tomsk Polytechnical Institute named after
MR. VLADIMIR ALEKSANDROVICH DMITRIEV
Mr. Dmitriev was born on August 25, 1953. In 1975, he graduated from the Moscow Financial Institute. Between 1993–1995, Mr. Dmitriev was Deputy Head of the Currency Department of the RF Finance Ministry. Since February 1995 through August 1997, he worked as Deputy Head of the Foreign Credits and External Debt Department of the RF Finance Ministry. Between 1997–2002, Mr. Dmitriev was First Deputy CEO of Vnesheconombank. Since 2002 through May 2004, he was Deputy CEO of Vneshtorgbank. In May 2004, by the Order of the RF President he was appointed as a Chief Executive Officer of Vneshtorgbank of the Russian Federation.
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PAO NOVATEK is the largest independent natural gas producer in Russia, and in 2017, entered the global LNG market by successfully launching the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company’s upstream activities are concentrated mainly in the prolific Yamal-Nenets Autonomous Region, which is the world’s largest natural gas producing area and accounts for approximately 80% of Russia’s natural gas production and approximately 15% of the world’s gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation. The Company’s shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol “NVTK”.
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