NVTK: OAO Novatek: Results of NOVATEK Board оf Directors

  NVTK: OAO Novatek: Results of NOVATEK Board оf Directors

UK Regulatory Announcement



Moscow, 05 December 2012. The Board of Directors (“the Board”) of OAO NOVATEK
(“NOVATEK” and/or the “Company”), held today, decided to convene an
Extraordinary General Meeting of Shareholders (“EGM”) in the form of absentee
voting on 9 January 2013 to approve several related party transactions. The
record date for the EGM is 7 December 2012.

The EGM will consider the following related party transactions:

1. A sales and purchase contract with OAO Mosenergo for the delivery of 27
billion cubic meters (bcm) of natural gas during the period 2013-2015. The
contract will allow NOVATEK to considerably reduce the present volume of
natural gas sold to wholesale gas traders in relation to the Company’s overall
natural gas sales volumes mix.

2. Agreements with OAO Sibur Holding (“Sibur”) providing for the delivery of
100% of light hydrocarbons produced during gas condensate stabilization
process at the Company’s Purovsky Plant to Sibur’s Tobolsk Petrochemical
Complex. These agreements will allow the Company to minimize capital
expenditures on the expansion of the Purovsky Plant, as well as to optimize
logistics of LPG produced from the light hydrocarbons through NOVATEK’s LPG
marketing network.

3. Deed of indemnity with GPB-Financial Services LTD and SIB (Cyprus) Limited
related to financing activities.

The Board also considered the prospects for developing natural gas marketing
capabilities in the Moscow Region and expanding the Company’s commercial
presence into the retail market of this region. As a result, the Board
approved the establishment of a wholly owned subsidiary – OOO NOVATEK Moscow


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”.


OAO Novatek
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