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NOVATEK reports preliminary operating data for the second quarter and first half 2010

Moscow, 9 July 2010. OAO NOVATEK (“NOVATEK” and/or the “Company”) today reported preliminary production data for the second quarter and first half 2010.

Gross production for the second quarter totaled 8.4 billion cubic meters of natural gas and 881 thousand tons of liquids (gas condensate and crude oil). Gross natural gas production increased by 743 million cubic meters, or by 9.6%, and gross liquids production increased by 119 thousand tons, or by 15.6%, as compared with the corresponding gross production in the second quarter 2009.

In the first half 2010, gross production for NOVATEK totaled 18.4 billion cubic meters of natural gas and 1.7 million tons of liquids. Natural gas production increased by 2.5 billion cubic meters, or by 15.4%, whereas gross liquids production increased by 273 thousand tons, or by 18.5% as compared with the corresponding gross production in the first half 2009.

In the second quarter and first half 2010, NOVATEK processed 833 and 1,649 thousand tons, respectively, of unstable gas condensate at the Purovsky Gas Condensate Processing Plant.

The Company dispatched nine tanker shipments for export in the second quarter 2010 as compared to eleven tanker shipments in the corresponding period 2009. At 30 June 2010, we had 802 million cubic meters of natural gas and 332 thousand tons of stable gas condensate in transit or storage and recognized as inventory until such time as it is delivered to the port of destination.

NOVATEK’s hydrocarbon production

2Q2009 2Q2010 QoQ% Gross production 1H2009 1H2010 HoH%
7.67 8.41 9.6% Natural gas, bcm 15.93 18.39 15.4%
762 881 15.6% Liquids, mt 1,474 1,747 18.5%


Information provided in this press release presents expected results of OAO NOVATEK operations in 2010. The information represents preliminary assessment only, which can be adjusted after statistical, financial, fiscal and business reporting becomes available. The information on NOVATEK’s operational results in this press release depends on many external factors and therefore, provided all permanent obligations imposed by the London Stock Exchange listing rules are unconditionally observed, cannot qualify for accuracy and completeness and should not be regarded as an invitation for investment. Therefore, the results and indicators actually achieved may significantly differ from any declared or forecasted operational results in 2010. OAO NOVATEK assumes no obligation (and expressly declares that it has no such obligation) to update or change any declarations concerning any future results, both due to new information obtained, any future events or for any other reasons.

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.