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NOVATEK commenced gas delivery on FEC’ s regulated price base to Tyumen and Kurgan regions

In 2004 OAO NOVATEK will deliver to Russian consumers about 2 bcm of gas at the prices regulated by the Federal Energy Commission. The agreements have already been signed and starting from January, gas is supplied to OOO Tyumenregiongas and OOO Kurganregiongas — regional distribution subsidiaries of OOO «Mezhregiongas». 1.1 billion cubic metres will be delivered to OOO «Tyumenregiongas»» and OOO «Kurganregiongas» is and 0.67 bcm accordingly which constitutes 88% and 60% of the total volume sold by these companies in their regions.

Thus, Novatek jointly with Gazprom supplies gas at regulated prices to the Russian consumers. At the same time it is a move towards equal conditions for all of the gas market participants. In future the company counts on a possibility to export gas and thus compensate the low prices of the internal market.

Novatek is also considering possibilities to invest in gas pipeline networks in the Tyumen and Kurgan regions to have more consumers.

Earlier NOVATEK already signed supply contract on 2 bcm of natural gas with the Urals Energy Management Company. The contract anticipates contractual price for Surgut hydroelectric power stations 1 and 2, Tyumen heat power stations 1 and 2 and Kurgan heat power station. In 2003 the company delivered 0.9 bcm of gas to Surgut hydraulic power stations 1 and 2 and 0.15 bcm of gas to Kurgan heat power station.

OAO Gazprom already issued all the necessary permissions for transportation of the above mentioned gas volume through united gas transportation system.

In 2004, Novatek has signed gas supply contracts with 10 regional companies, which are 100% subsidiaries of Gazprom.

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.