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NVTK: OAO Novatek: Update on NOVATEK buyback program

  NVTK: OAO Novatek: Update on NOVATEK buyback program

UK Regulatory Announcement

MOSCOW

                      UPDATE ON NOVATEK BUYBACK PROGRAM

Moscow, 27 May 2013. OAO NOVATEK (“NOVATEK” and/or the “Company”) announces
today that pursuant to the Company’s buyback program announced on 7 June 2012,
during the period from 20 through 24 May 2013, 57,350 ordinary shares
(including in a form of Global Depositary Receipts) were purchased on the open
market.

                                     ***

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, NOVATEK is
engaged in the exploration, production, processing and marketing of natural
gas and liquid hydrocarbons. Its 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 90% 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.
NOVATEK’s shares and GDRs are listed on MICEX-RTS Stock Exchange in Russia and
the London Stock Exchange (LSE), respectively, under the ticker symbol “NVTK”.

Contact:

OAO Novatek