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NOVATEK Board of Directors recommends 2010 dividend

Moscow, 24 March 2011. OAO NOVATEK (the “Company”) today announced the results of its Board of Directors (the “Board”) meeting to recommend to the Annual General Meeting of Shareholders (“AGM”) to approve dividend payments on the Company’s shares in the amount of RR 2.5 per ordinary share. The Board’s Corporate Governance Committee recommended the dividend payment based on NOVATEK’s annual results for 2010 prepared in accordance to Russian accounting standards.
The total dividend distribution per ordinary share for 2010, including interim dividends paid for the six months of 2010, amounts to RR 4.00 per one ordinary share.
The Company’s AGM will take place on 28 April 2011. Shareholders of at the close of business on the 22 March 2011 will be entitled to receive dividends and participate in the Company’s AGM.

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.