Russia: NOVATEK Announces Change in Shareholder Structure

OAO NOVATEK today announced a change in the shareholding structure of shareholders holding not less than five percent of the Company’s ordinary shares.

On 4 April 2011, the Company was notified by Total E&P ARCTIC RUSSIA that it had increased its share in NOVATEK’s equity from zero to 12.0869%.

On the same date, SWGI Growth Fund (Cyprus) Ltd. also informed the Company that it had decreased its share in NOVATEK’s equity, including GDRs, from 17.5843% to 11.6473 %.

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 83% of Russia’s natural gas production and 16% of the world’s gas production.

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Source: NOVATEK, April 4, 2011;