NOVATEK

M&A Activity • May 18, 2016

National Storage Mechanism | Additional information

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RNS Number : 6321Y

OAO Novatek

18 May 2016

FOR IMMEDIATE RELEASE                                                      

NOVATEK Signed Memorandum of Understanding with PTT

St. Petersburg, 18 May 2016. OAO NOVATEK (NOVATEK and/or the Company) announced today that a Memorandum of Understanding (MOU) was signed between NOVATEK and PTT of Thailand at a meeting between the Russian Prime Minister Dmitry Medvedev and the Prime Minister of Thailand Prayut Chan-o-cha.

According to the MOU, the parties intend to cooperate and study potential joint opportunities in the exploration and production of hydrocarbons, the implementation of LNG projects, the supply of LNG and the development of LNG markets, and the supply of liquid hydrocarbons.

The Chairman of NOVATEK's Management Board Leonid Mikhelson noted: "There are strong fundamentals for this joint cooperation. NOVATEK has high quality resources for the implementation of new LNG projects, while PTT is expanding LNG supplies to Thailand and is interested in the sustainability of such supplies to their domestic markets.  I'm certain we will be able to establish an optimal framework for efficient joint business development of our companies".

Note

PTT, majority owned by the Government of Thailand, and under the supervision of the Ministry of Energy, is the largest integrated oil and gas company in exploration, production, transportation, processing, distribution and marketing of oil and gas in Thailand and also carries out various operations in other energy and petrochemical areas.

http://www.rns-pdf.londonstockexchange.com/rns/6321Y_-2016-5-18.pdf

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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

press@novatek.ru                                                       ir@novatek.ru

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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».

This information is provided by RNS

The company news service from the London Stock Exchange

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