NOVATEK Operating Data for 4Q and FY 2015

FOR IMMEDIATE RELEASE

NOVATEK Reports Preliminary Operating Datafor the Fourth Quarter and Full Year 2015

Moscow, 13 January 2016. OAO NOVATEK ("NOVATEK" and/or the "Company") reported today preliminary operating data for the fourth quarter and full year 2015.

In the fourth quarter 2015, NOVATEK's marketable production totaled 17.80 billion cubic meters (bcm) of natural gas and 2,559 thousand tons of liquids (gas condensate and crude oil). The Company's full year 2015 marketable production aggregated 67.91 bcm of natural gas and 9,094 thousand tons of liquids, resulting in an increase in natural gas production by 5.78 bcm, or by 9.3% as compared with 2014, and an increase in combined liquids production by 3,058 thousand tons, or by 50.7%.

NOVATEK processed 3,322 and 12,021 thousand tons of unstable gas condensate at the Purovsky Processing Plant, which represented a 59.6% and 82.1% increase as compared with the corresponding volumes in the fourth quarter and full year 2014, respectively.

In the fourth quarter and full year 2015, NOVATEK processed 1,681 and 6,727 thousand tons, respectively, of stable gas condensate at the Ust-Luga Fractionation and Transshipment Complex, which is 13.7% and 42.9% higher as compared with the respective periods in 2014. Preliminary fourth quarter 2015 petroleum product sales volumes aggregated 1,657 thousand tons, including 1,017 thousand tons of naphtha, 229 thousand tons of jet fuel, and 411 thousand tons of fuel oil and gasoil.

As the Ust-Luga Complex achieved full capacity utilization export sales of stable gas condensate were resumed in March 2015. During the full year 2015, 1,478 thousand tons of stable gas condensate were exported, including 619 thousand tons exported in the fourth quarter.

As at 31 December 2015, NOVATEK had 1.29 bcm of natural gas and 656 thousand tons of stable gas condensate and petroleum products in storage or transit and recognized as inventory.

NOVATEK's hydrocarbon marketable production

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Information provided in this press release presents expected results of OAO NOVATEK operations in 4Q and FY 2015. 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 4Q and FY 2015. 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.

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For further information, please visit www.novatek.ru or contact:

Press Service Investor Relations

+7 (495) 721 2207 +7 (495) 730 6013

[email protected] [email protected]

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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 approximately 80% of Russia's natural gas production and approximately 16% 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 Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol «NVTK».