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NOVATEK concludes long-term gas supply contracts

Moscow, 28 August 2012. OAO NOVATEK (“NOVATEK” or the “Company”), announced today the conclusion of long-term natural gas supply contracts with OAO E.ON (“E.ON”) and OAO Fortum (“Fortum”). The gas supply contracts have been signed for a period of 15 years starting from January 1, 2013 with the total volume of natural gas supplied over this period is estimated to exceed 180 billion cubic meters.
According to the supply contracts NOVATEK will deliver natural gas to the Smolenskaya GRES, the Surgutskaya GRES-2, the Shaturskaya GRES and the Yayvinskaya GRES power stations of E.ON, as well as to the Nyaganskaya GRES and power stations of Fortum in Chelyabinsk.
The Chairman of NOVATEK’s Management Board Leonid Mikhelson noted: “The conclusion of these long-term natural gas supply contracts are consistent with the Company’s commercial marketing strategy and they will enable NOVATEK, E.ON and Fortum to establish and implement their respective production plans on a stable and mutually beneficial basis over a long-term perspective.”

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.