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GAZPROM and NOVATEK discuss development of Yamal LNG

Moscow, 27 August 2009. OAO NOVATEK (“NOVATEK”) announced today that OAO Gazprom CEO Alexei Miller and NOVATEK CEO Leonid Mikhelson held a working meeting to discuss the formation of a general plan for the development of hydrocarbon resources in the Yamal Peninsula.

The two sides discussed the development plan for NOVATEK’s subsidiary, Yamal LNG, as part of the general plan to create LNG production capacity at the Yamal Peninsula. The resource base of the Tambeyskiy group of fields, which NOVATEK and Gazprom hold the licenses to, located in the Yamal Peninsula will provide the basis for the development of LNG facilities.

Summing up the results of the meeting, both sides noted that to effectively develop Yamal LNG it would be prudent to begin discussions with potential partners in the project.

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.