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NOVATEK and Leningrad Region Government sign Cooperation Agreement

Saint Petersburg, June 17, 2016. OAO NOVATEK (hereinafter “NOVATEK” and/or “Company”) and the Leningrad Region Government entered into a Cooperation Agreement on the region’s social and economic development at the 20th Saint Petersburg International Economic Forum.

The document envisages that the Parties will take joint efforts in investment, research, and innovations in the Leningrad Region. The Agreement is signed for a term of three years.

The Parties anticipate that the Agreement will contribute to a favorable investment climate in the region, improve living standards and create new jobs as well as providing for the social and economic development of the region.

NOVATEK will promote the development of the Leningrad Region’s social infrastructure, environmental initiatives, chemical sciences and education, as well as contribute to the advancement of physical education and sports, including amateur and children sports.

“NOVATEK is one of the key partners of the Leningrad Region,” Alexander Drozdenko, the region’s governor, said. “In the port of Ust-Luga, the investor has built and now operates a state-of-the-art complex for gas condensate processing and production of naphtha, kerosene and other types of fuel that are in demand both in the domestic and international markets. It is important for us that the company doesn’t only show interest for business projects but also for the development of social infrastructure of the region where it operates.”

Chairman of the Management Board of NOVATEK, Leonid Mikhelson noted: “We are committed to our longstanding cooperation with the Leningrad Region.  Following our policy, we implement programs to support educational and cultural institutions, children and youth projects and initiatives.”

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.