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NOVATEK earns environmental recognition

Moscow, 03 November 2006. OAO NOVATEK today announced that the Company was among the winners in the Russian “National Environmental Prize” contest in which it was nominated and received an award for “Contributions to Sustainable Development”.

The “National Environmental Prize” is sponsored by the State Duma of the Russian Federation’s Environmental Committee and the Vernadsky Fund, a non-governmental environmental organization, and is the only official award in Russia recognizing the social and environmental contributions made by Russian companies.

NOVATEK’s award was based on the results of its 2004 – 2005 Sustainability Report, prepared in accordance with the principles and recommendations of the Global Reporting Initiative (GRI) and independently certified by Societe General Vostok.

The report’s main purpose was to establish a dialogue with all interested parties concerning the effectiveness of the Company’s environmental and social policies in a transparent forum and to highlight NOVATEK’s orientation to global standards and practices of sustainable development. The report contains information on the activities of the Company, including; financial efficiency, socio-economic activities, environmental protection activities and industrial and employee safety.

NOVATEK is also in the process of implementing an environmental health and safety management system for all of its operating subsidiaries in accordance with the International Organization for Standardization (ISO) 14001 and the Occupational Health and Safety Advisory Services (OHSAS) 18001 guidelines. The first of NOVATEK’s subsidiaries to receive certification was OOO Yurkharovneftegas.

NOVATEK plans to continue increasing the effectiveness of its environmental and social policies based on the fundamental principal that the current generation has a responsibility to protect and improve environmental and social conditions for future generations. 

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.