Moscow, 28 December 2009. OAO NOVATEK (the “Company”)and OAO First Cargo Company (“FCC”) have entered into a three-year cooperation agreement for liquid transportation services.  The agreement was signed by NOVATEK’s First Deputy CEO Mikhail Popov and FCC’s General Director Salman Babayev.
 

The three-year agreement anticipates transporting increasing volumes of stable gas condensate produced from the Company’s Purovsky Plant, thus making FCC one of NOVATEK’s major partners for railway cargo transportation.

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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 Region, which is the world's largest natural gas producing area and accounts for over 90% of Russia's natural gas production and 20% 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 on the Russian Trading System (RTS) and the London Stock Exchange (LSE) under the ticker symbol ‘NVTK’ and on the NASDAQ PORTAL System as Rule 144A GDR under the ticker symbol “NVATY”.

 

 

ОАО First Cargo Company is Russia largest railway operator. Its main founder and holder of FCC’s ordinary shares is ОАО Russian Railways (RZD). FCC was established in July 2007 and, in November of the same year, began to independently manage the rail car fleet. Currently, FCC owns more than 200 000 units of various types of rolling stock and maintains a 21% market share for rolling stock in the Russian Federation. In 2008, FCC transported over 100 million tons of cargoes.