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NOVATEK launches unstable gas condensate de-ethanization unit and pipeline

Moscow, 16 August 2010. OAO NOVATEK (“NOVATEK” and/or the “Company”) today announced the completion and launch of an unstable gas condensate de-ethanization unit at its Yurkharovskoye field as well as the 326 kilometer unstable gas condensate pipeline connecting the field with the Company’s wholly-owned Purovsky Gas Condensate Processing Plant (“Purovsky Plant”).

The construction of the unstable gas condensate de-ethanization unit and pipeline, completed within schedule and budget, will allow NOVATEK to de-ethanize and transport up to three million tons of unstable gas condensate per annum from the Yurkharovskoye field, and enable the Company to increase annual gas condensate production.

The Company was able to optimize the capital expenditures required to complete the pipeline by incorporating solar and wind power generation units to provide the necessary electricity to operate the pipeline’s tele-mechanic system and valves, instead of using a fixed electrical line.

“The successful launch of our new facilities provides sufficient capacity to meet the Company’s current and future de-ethanization and transportation needs, as well as increasing the economic and operational efficiencies of unstable gas condensate production at the Yurkharovskoye field by eliminating the risks and costs associated with using third parties for these services” according to Alexander M. Fridman, Deputy Chairman of NOVATEK’s Management Board.

The Yurkharovksoye field is the largest of the Company’s exploration and production assets in terms of reserves and production and is the main driver for NOVATEK’s mid-term production growth. The new de-ethanization unit and pipeline will allow the Company to fully control the production and transportation of unstable gas condensate from its field to the Purovsky Plant, and is considered an integral part of NOVATEK’s gas condensate value chain.

PAO NOVATEK is one of the largest independent natural gas producers 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 Area, 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.