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NOVATEK releases 2006 - 2007 Sustainability Report

Moscow, 9 February 2009. OAO NOVATEK today announced the release of its 2006-2007 Sustainability Report on the Territory of the Russian Federation. The Sustainability Report describes NOVATEK’s ongoing efforts to help mitigate the challenges confronting oil and gas companies as well as the Company’s commitment to develop its core assets in a environmentally and socially sustainable manner.  

 “The preparation and publication of our Sustainability Report demonstrates our commitment to the principles of sustainable development, corporate responsibility and operational and financial transparency”, according to NOVATEK’s CEO Leonid V. Mikhelson. “We will continue to seek ways to improve our fundamentals policies and procedures in this important area, and we are committed to fostering a long-term partnership with the local and regional administrations to ensure that we operate our facilities and produce hydrocarbons with minimal disruption to the environment.”  

The Sustainability Report has been independently audited and received a C+ rating in compliance with Global Reporting Initiative Guidelines.

The full Sustainability Report in Russian and English is available on the Company’s web site

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.