22nd Apr 2010 07:38
FOR IMMEDIATE RELEASE
NOVATEK SIGNS BUTANE GAS SUPPLY AGREEMENT
WITH NIZHNEKAMSKNEFTEKHIM
Moscow, 22 April 2010. OAO NOVATEK ("NOVATEK" and/or the "Company") today announced that the Company's First Deputy CEO Mikhail Popov and OAO Nizhnekamskneftekhim General Director Vladimir Busygin have signed a long-term agreement whereby NOVATEK will supply commercial butane, produced at the Purovsky Gas Condensate Processing Plant (Purovsky Plant), to OAO Nizhnekamskneftekhim.
The agreement is valid until the end of 2012 and provides for delivery of not less than 85 thousand tons of commercial butane per annum, thus ensuring stable sales for NOVATEK and a reliable supply of raw material for OAO Nizhnekamskneftekhim, one of the largest petrochemical companies in Russia.
NOVATEK's Purovsky Plant is one of the main producers of liquefied petroleum gases (LPG) in Russia and in 2009 the Company sold 749 thousand tons of LPG. Commercial butane is one of several LPGs produced by the Purovsky Plant, and is one of the most widely used raw materials in the petrochemical industry.
For further information, please visit www.novatek.ru or contact:
| Press Service | Investor Relations | |
| +7 (495) 721 2207 | +7 (495) 730 6020 | |
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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