NOVATEK Signed An Agreement On Construction Of Two LNG Carriers For Yamal LNG Project

NOVATEK Signed An Agreement On Construction Of Two LNG Carriers For Yamal LNG

PR Newswire

ST. PETERSBURG, Russia, June 20, 2013

ST. PETERSBURG, Russia, June 20, 2013 /PRNewswire/ --OAO NOVATEK ("NOVATEK"
and/or the "Company") announced today that during the St. Petersburg
International Forum the Company has signed a cooperation agreement with, OAO
Sovcomflot and Vnesheconombank on the construction of two LNG carriers for
Yamal LNG project.

According to the cooperation agreement, Vnesheconombank will consider
financing the construction of two LNG tankers, and Sovcomflot confirms its
interest in operation of these tankers as a bare-boat charterer and a
technical manager.

LNG tankers will be built at one of the world's leading shipyards selected
during the tender with the delivery of these tankers scheduled for 2016.

Yamal LNG project envisages the construction of an LNG plant with annual
capacity of 16.5 million tons per annum based on the feedstock resources of
the South-Tambeyskoye field. According to the PRMS reserve standards, the
proven and probable reserves of the South-Tambeyskoye field as of 31 December
2012 were appraised at 907 billion cubic meters of natural gas. The Project
also requires the construction of transport infrastructure including a
sea-port and an airport located at Sabetta (north-east of the Yamal

Yamal LNG is currently owned by NOVATEK (80%) and TOTAL (20%).

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 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. The Company's shares are listed in Russia on
MICEX-RTS Stock Exchange and the London Stock Exchange (LSE) under the ticker
symbol "NVTK".


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