27th May 2010 07:00
FOR IMMEDIATE RELEASE
NOVATEK ANNOUNCES NEW PERM SUBSIDIARY
Moscow, 27 May 2010. OAO NOVATEK ("NOVATEK" and/or the "Company") has announced the creation of a wholly-owned subsidiary, OOO NOVATEK Perm, to support the Company's current natural gas deliveries to the Perm Territory as well as to expand potential sales opportunities in the territory.
The Perm Territory is one of the largest industrial centers in the Russian Federation and one of NOVATEK's main markets for natural gas sales. In the first quarter of 2010, the Company supplied approximately 30% of the Perm Territory's natural gas consumption during the period.
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For further information, please contact:
| Press Service | Investor Relations | |||
| +7 (495) 721 2207 | +7 (495) 730 6013 | |||
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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 over 90% of Russia's natural gas production and 20% 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 on the Russian Trading System (RTS), MICEX Stock Exchange and the London Stock Exchange (LSE) under the ticker symbol 'NVTK' and on the NASDAQ PORTAL System as Rule 144A GDR under the ticker symbol "NVATY".
Copyright Business Wire 2010
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NVTK.L