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GAZPROM and NOVATEK discuss increasing LNG production on the Yamal peninsula

Moscow, 20 January 2012. OAO NOVATEK (“NOVATEK” and/or the “Company”) announced today that the Company’s Chairman of the Management Board, Leonid Mikhelson, and the Chairman of the Management Board of OAO Gazprom, Aleksey Miller, held a working meeting which was also attended by the Chairman of the Management Board of Gazprombank (OAO), Andrey Akimov.
The purpose of the meeting was the discussion of possible joint projects between NOVATEK and OAO Gazprom to increase LNG production capacity near the port of Sabetta, located on the Yamal peninsula, through the development of new fields in the northern part of the peninsula, as well as considering the possibility of a joint development strategy for the hydrocarbon resources of the Gydan peninsula to offset declining production in the Nadym-Pur-Taz region.

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.