NVTK: OAO Novatek: NOVATEK reports preliminary operating data for first quarter 2014

  NVTK: OAO Novatek: NOVATEK reports preliminary operating data for first
  quarter 2014

UK Regulatory Announcement



                            FOR FIRST QUARTER 2014

Moscow, 9 April 2014. OAO NOVATEK (“NOVATEK” and/or the “Company”) reported
today preliminary operating data for the first quarter 2014.

In the first quarter 2014, NOVATEK’s gross production totaled 15.71 billion
cubic meters (bcm) of natural gas and 1,370 thousand tons of liquids (gas
condensate and crude oil), resulting in a decrease in natural gas production
by 2.4% and an increase in combined liquids production by 15.6%, as compared
with the first quarter 2013. The decrease in natural gas production was due to
the disposal of the Company’s share in Sibneftegas at the end of 2013.
Excluding Sibneftegas fields, NOVATEK’s natural gas production increased by
7.1% year-on-year.

NOVATEK processed 1,385 thousand tons of unstable de-ethanized gas condensate
at the Purovsky Processing Plant, representing an increase in liquid volumes
processed by 16.4% as compared with the first quarter 2013.

In the first quarter 2014, NOVATEK processed 1,005 thousand tons of stable gas
condensate at the Ust-Luga Complex launched in June 2013. Preliminary first
quarter 2014 product sales volumes aggregated approximately 965 thousand tons,
including 775 thousand tons of naphtha, 99 thousand tons of jet fuel, and 91
thousand tons of heating oil and gasoil.

At 31 March 2014, NOVATEK had 806 mmcm of natural gas and 434 thousand tons of
stable gas condensate and its products in storage or transit and recognized as
inventory. The year-on-year increase in natural gas recorded as inventories
was due to abnormally warm weather conditions in the fourth quarter 2013 and
first quarter 2014 across NOVATEK’s key regions of sales.

                       NOVATEK’s hydrocarbon production

Gross production                                     1Q2013  1Q2014  QoQ%
Natural gas, bcm                                      16.10    15.71    -2.4%
excluding NOVATEK’s share in Sibneftegas              14.67    15.71    7.1%
production, bcm
Liquids, mt                                           1,185    1,370    15.6%


Information provided in this press release presents expected results of OAO
NOVATEK operations in 1Q 2014. The information represents preliminary
assessment only, which can be adjusted after statistical, financial, fiscal
and business reporting becomes available. The information on NOVATEK’s
operational results in this press release depends on many external factors and
therefore, provided all permanent obligations imposed by the London Stock
Exchange listing rules are unconditionally observed, cannot qualify for
accuracy and completeness and should not be regarded as an invitation for
investment. Therefore, the results and indicators actually achieved may
significantly differ from any declared or forecasted operational results in 1Q
2014. OAO NOVATEK assumes no obligation (and expressly declares that it has no
such obligation) to update or change any declarations concerning any future
results, both due to new information obtained, any future events or for any
other reasons.


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 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”.


OAO Novatek
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