NVTK: OAO Novatek: NOVATEK and Gazprom will establish joint venture to increase LNG production on the Yamal Peninsula

  NVTK: OAO Novatek: NOVATEK and Gazprom will establish joint venture to
  increase LNG production on the Yamal Peninsula

UK Regulatory Announcement

MOSCOW

NOVATEK AND GAZPROM WILL ESTABLISH JOINT VENTURE TO INCREASE LNG PRODUCTION ON
                             THE YAMAL PENINSULA

St. Petersburg, 10 January 2013. OAO NOVATEK (“NOVATEK” and/or the “Company”)
and OAO Gazprom (“Gazprom”) signed today an agreement within the Memorandum of
Cooperation providing for the establishment of a joint venture to increase LNG
production on the Yamal Peninsula and to use the infrastructure built on the
Peninsula. The agreement defines the schedule for the establishment of the
joint venture.

Note

In April 2012, Gazprom and NOVATEK signed the Memorandum of Cooperation (valid
through 1 February 2013), providing for the possibility to establish a joint
venture to increase LNG production capacity on the Yamal Peninsula.

                                     ***

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

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

OAO NOVATEK isRussia’s largest independent gas producer and the
second-largest natural gas producer inRussia. Founded in1994, the Company
isengaged inthe exploration, production, processing and marketing ofnatural
gas and liquid hydrocarbons. The Company’s upstream activities are
concentrated inthe prolific Yamal-Nenets Autonomous Region, which isthe
world’s largest natural gas producing area and accounts for approximately84%
ofRussia’s natural gas production and approximately17% ofthe world’s gas
production. NOVATEK isanopen joint stock company established under the laws
ofthe Russian Federation. The Company’s shares are listed inRussia
onMICEX-RTS Stock Exchange and the London Stock Exchange (LSE) under the
ticker symbol “NVTK”.

Contact:

OAO Novatek