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NOVATEK signs Cooperation Agreement with Federal and Regional Administrations

Vladivostok, September 05, 2016. OAO NOVATEK (NOVATEK or the Company) signed a Cooperation Agreement with the Russian Ministry of Natural Resources and Environment, the Federal Supervisory Natural Resources Management Service, and the Government of the Yamal-Nenets Autonomous Region.

The document stipulates implementing NOVATEK’s corporate greenhouse gas emissions management system and further certification thereof under ISO 14064. Under this project, sources of greenhouse gas emissions will be categorized, a respective calculation method will be selected and automated reporting will be developed.

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.