NVTK: OAO Novatek: NOVATEK and ROSATOM enter into cooperation agreement

  NVTK: OAO Novatek: NOVATEK and ROSATOM enter into cooperation agreement

UK Regulatory Announcement

MOSCOW

             NOVATEK AND ROSATOM ENTER INTO COOPERATION AGREEMENT

Moscow, 12 November 2012. OAO NOVATEK (“NOVATEK” and/or the “Company”)
announced today that the Chairman of NOVATEK’s Management Board, Leonid
Mikhelson, and the General Director of the State Atomic Energy Corporation
ROSATOM, Sergey Kirienko, have signed a General Cooperation Agreement
(hereinafter the “Agreement”) in Moscow.

The Agreement formalizes the Parties intent to develop a mutually beneficial
partnership to coordinate the following lines of investment and innovation
activities:

  *The safe and efficient navigation in Arctic Waters, White and Baltic Seas;
  *The coordination of interrelated investment projects; and
  *The creation of new technologies and development of competitive products
    (including import substitution) to raise the efficiency of geological
    exploration, production, transportation, storage and processing of natural
    gas and gas condensate.

The Company and ROSATOM have a mutual interest and intent to develop
cooperation in organizing continuous and environmentally safe icebreaker
support to the vessels navigating through the Northern Sea Route, in
particular, to and from the port of Sabetta when transporting construction
cargoes and end products of the LNG plant on the Yamal peninsula. The
Agreement envisages conclusion of a long-term services contract for icebreaker
support through the Northern Sea Route for the period of at least 15 years.

The Chairman of OAO NOVATEK’s Management Board, Leonid Mikhelson noted: “The
Company is active in the Arctic Region and has pioneered the transportation of
hydrocarbons by tankers through the Arctic Ocean’s Northern Sea Route. We are
planning to scale up operations and develop our hydrocarbon fields on the
Yamal and Gydan peninsulas and in the Gulf of Ob. A mutually beneficial
cooperation with ROSATOM reinforces our confidence in implementing our
long-term development plans and underscores our commitment to conducting all
of our operation in a sustainable development manner consistent with industry
best practices.”

The General Director of ROSATOM State Corporation, Sergei Kirienko said: “One
of ROSATOM’s main goals is to develop the Northern Sea Route. That is why we
are building a new generation of nuclear-powered icebreakers, guaranteeing
reliable operation of this major traffic artery in the long-term period. This
is a mutually beneficial agreement – for ROSTATOMflot it is important to have
a stable demand for its services and for such companies as NOVATEK, it is
essential to be confident that its hydrocarbon production is transported the
most effective way”.

                                     ***

For further information, please visit www.novatek.ru or contact:

Press Service       Investor Relations
+7 (495) 721 2207     +7 (495) 730 6013
press@novatek.ru      ir@novatek.ru

                                     ***

OAO NOVATEK is Russia’s largest independent gas producer and the
second-largest natural gas producer in Russia. Founded in 1994, the Company is
engaged in the exploration, production, processing and marketing of natural
gas and liquid hydrocarbons. The Company’s upstream activities are
concentrated in the prolific Yamal-Nenets Autonomous Region, which is the
world’s largest natural gas producing area and accounts for approximately 84%
of Russia’s natural gas production and approximately 17% of the world’s gas
production. NOVATEK is an open joint stock company established under the laws
of the Russian Federation. The Company’s shares are listed in Russia on
MICEX-RTS Stock Exchange and the London Stock Exchange (LSE) under the ticker
symbol “NVTK”.

Contact:

OAO Novatek