Change of shareholder control

Mark Gyetvay, CFO
Alexander Palivoda, Head of IR
+7 (495) 730-6013

Mikhail Lozovoy, Press-secretary

+7 (495) 721-2207

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29 April 2011

Moscow, 29 April 2011. OAO NOVATEK (“NOVATEK” and/or the “Company”) today announced a change in the shareholding structures of shareholders holding not less than five percent of the Company’s ordinary shares.
The Company was notified by DHIGNFINOLHU HOLDING LIMITED that its 100% subsidiary, ZGG CAYMAN HOLDING LIMITED, had decreased its stake in the ordinary shares of NOVATEK from 9.4031% to zero. The Company also received notification from SWGI Growth Fund (Cyprus) Ltd. that it had increased its share in NOVATEK’s equity from 11.6473% to 15.4004% (inclusive of GDRs). 

OAO NOVATEK is Russia’s largest independent gas producer and the second-largest natural gas producer in Russia. 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 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 gas production and approximately 16% of the world’s gas production. NOVATEK is an open 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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