NOVATEK Announcement on Court Hearings Regarding Deputy Chairman of the Management Board Mark Gyetvay
Moscow, 24 September 2021. In respect of court hearings regarding Deputy Chairman of PAO NOVATEK (“NOVATEK” and/or the “Company”) Management Board Mark Gyetvay, NOVATEK would like to make the following statement.
As far as we know from US law enforcement reports, currently Mark Gyetvay is in the process of court hearing in the US regarding alleged personal tax evasion. The Company is not involved in the litigation and does not have any details of the court hearings. NOVATEK monitors the situation and will give all necessary support.
For many years, Mark Gyetvay is the main representative of NOVATEK for professional and investment community, making invaluable contribution to NOVATEK success. In 2014, Mark Gyetvay left the Board of Directors of NOVATEK and Chief Financial Officer’s position, and according to the internal NOVATEK’s order, subsequently was not involved in financial activities of the Company, including attracting financing.
The situation has absolutely no effect on NOVATEK’s operational and financial activities.
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. Upstream activities of the Company’s subsidiaries and joint ventures 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.