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NOVATEK declares interim dividend for six months 2006

Moscow, 8 August 2006. The Board of Directors of OAO NOVATEK declared an interim six month dividend, for shareholders of record at the close of business on 31 July 2006, of RR 0.55 per share of ordinary stock, post share split, or RR 5.50 per GDR. The total amount of the interim dividend is RR 1,669,968,300.

The Board of Directors have scheduled an Extraordinary Shareholder Meeting to approve the interim dividend by remote voting. The deadline for acceptance of completed ballots is 11 September 2006. The interim dividend is payable 60 days after shareholder approval.

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.