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NOVATEK Board of Directors recommends 2014 dividend

Moscow, 12 March 2015.  OAO NOVATEK (the “Company”) today announced the results of its Board of Directors (the “Board”) meeting, whereby the Board recommended to the Annual General Meeting of Shareholders (“AGM”) to approve dividend payments on the Company’s shares in the amount of RR 5.2 per ordinary share (or RR 52 per GDR), excluding the interim dividends of RR 5.1 per ordinary share (or 51 per GDR) paid for the six months of 2014. 

The total dividend distribution for 2014 is RR 10.3 per ordinary share (or RR 103 per GDR), which is 30.5% higher as compared to RR 7.89 (or RR 78.9 per GDR) for 2013.

The Company’s AGM will take place on 24 April 2015. Shareholders at the close of business on the 23 March 2015 will be entitled to participate in the Company’s AGM. The recommended date for compiling the list of shareholders entitled to receive dividends is 5 May 2015.

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.