NVTK: OAO Novatek: NOVATEK acquires regional gas distributor

  NVTK: OAO Novatek: NOVATEK acquires regional gas distributor

UK Regulatory Announcement

MOSCOW

FOR IMMEDIATE RELEASE

                  NOVATEK ACQUIRES REGIONAL GAS DISTRIBUTOR

Moscow, 28 December 2012. OAO NOVATEK (“NOVATEK” and/or the “Company”)
announced today the acquisition of an 82% participation interest in the share
capital of OOO Gazprom Mezhregiongas Kostroma (“Gazprom Mezhregiongas
Kostroma”) for a total consideration of RR 554 million. Gazprom Mezhregiongas
Kostroma supplies natural gas to a wide range of consumers in the Kostroma
Region (the “Region”).

In the first nine months of 2012, Gazprom Mezhregiongas Kostroma supplied 2.7
billion cubic meters (bcm) of natural gas to the Region. During the same
period, NOVATEK supplied 0.461 bcm to the Region.

According to NOVATEK’s Chairman of the Management Board, Leonid V. Mikhelson,
“The acquisition of Gazprom Mezhregiongas Kostroma is another step in the
implementation of the Company’s marketing strategy, providing for the
expansion into strategic regions as well as increasing the share of
end-customers in our total natural gas sales volumes mix”.

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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