NOVATEK is Russia’s largest independent natural gas producer and the second-largest natural gas producer in Russia after Gazprom. The company is principally engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons and has over 17 years of operational experience in the Russian oil and natural gas sector. For the first nine months of 2011, the Company accounted for approximately 8% of total Russian natural gas production and 33% of natural gas produced by Russian independent producers, as well as playing a significant role in Russia’s energy balance providing over 15% of total 9M2011 domestic natural gas deliveries through the Unified Gas Supply System (UGSS).

In the first eleven months of 2011, gross production for NOVATEK totaled 48.6 billion cubic meters of natural gas and 3.8 million tons of liquids. NOVATEK’s principal operating areas are concentrated in Yamalo-Nenetsk Region in Western Siberia. The Yamalo-Nenetsk Region is the most significant gas producing region in Russia, accounting for approximately 83% of Russia’s natural gas production and approximately 16% of global natural gas production.

NOVATEK is currently required to sell 100% of its natural gas to customers in the Russian Federation, which are mainly power generation companies, industrial users, regional gas distributors and wholesale gas traders. The company generates revenues primarily from natural gas and gas condensate sales and, to a lesser extent, sales of other liquid hydrocarbons.

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