17th Aug 2010 07:15
NOVATEK SHIPS STABLE GAS CONDENSATE VIA
THE NORTHERN SEA ROUTE
Moscow, 17 August 2010. OAO NOVATEK ("NOVATEK" and/or the "Company) has announced that on 14 August 2010, the Company dispatched a consignment of its stable gas condensate from the Murmansk Port which will travel to the Asian-Pacific region via the Northern Sea Route. The consignment is being shipped using OAO Sovcomflot's high-tonnage (deadweight greater than 100 thousand tons) tanker, Baltika, with icebreaking support provided by the Russian Federation's, Atomflot. The shipment of stable gas condensate through the Arctic Ocean's Northern Sea Route is the first of its kind for a high-tonnage tanker.
Transportation of goods via the Northern Sea Route requires less time than traditional routes due to the shorter distances between the North-Western ports of the Russian Federation and the countries of the Asian-Pacific region. The success of NOVATEK's shipment is strategically important and will have a beneficial impact on the Northern regions of the Russian Federation by facilitating the development of new hydrocarbon fields located in the Yamal peninsula and arctic shelf.
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For further information, please visit www.novatek.ru or contact:
| Press Service +7 (495) 721 2207 | Investor Relations +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 approximately 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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