Update On NOVATEK Buyback Program

                      Update On NOVATEK Buyback Program

PR Newswire

ST. PETERSBURG, Russia, July 29, 2013

ST. PETERSBURG, Russia, July 29, 2013 /PRNewswire/ --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 22 through 26 July
2013, 177,110 ordinary shares (including in a form of Global Depositary
Receipts) were purchased on the open market.

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".

SOURCE OAO NOVATEK

Contact: David Sowells, +1- 202-701-9005