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NOVATEK increases stake in Yamal LNG

Moscow, 30 September 2011. OAO NOVATEK (NOVATEK and/or the Company) today announced that it has increased its equity interest in Yamal LNG to 100% by exercising call options through its wholly owned subsidiary, NOVATEK North-West.  
NOVATEK increased its equity interest through two call options for 23.9% and 25.1% purchased in July 2009 and March 2011, respectively. The options’ strike price will be paid in instalments with the final payment due by 30 June 2012.

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.