Novatek Resumes Gas Deliveries After Planned Capacity Expansion

Novatek has successfully connected the second gas pipeline from the Khancheyskoye field to infrastructure at the East-Tarkosalinskoye field. The Company has also completed the overhaul of the gas condensate de-ethanization plant at the East-Tarkosalinskoye field. Novatek resumed gas deliveries to the Unified Gas Supply System October 17, 2006.

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 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) and as Global Depository Receipts (GDR) on the London Stock Exchange (LSE) under the 'NVTK' ticker symbol and on the NASDAQ PORTAL System as Rule 144A Depository Receipts under the ticker symbol "NVATY".