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Change in shareholding of NOVATEK

Moscow, 05 August 2013. OAO NOVATEK (“NOVATEK” and/or the “Company”) has received a notice from OOO Santata regarding a decrease in its equity stake in the Company from 11.75% to 7.125%. 

In accordance with a press release for the  Volga Group, which includes OOO Santata, the change is due to repo transactions necessary under financing terms with international and Russian banks and does not affect the consolidated shareholding in NOVATEK by the Volga Group.

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.