OREANDA-NEWS. January 15, 2013. JSC NOVATEK (“NOVATEK” and/or the “Company”) and JSC Gazprom (“Gazprom”) signed an agreement within the Memorandum of Cooperation providing for the establishment of a joint venture to increase LNG production on the Yamal Peninsula and to use the infrastructure built on the Peninsula. The agreement defines the schedule for the establishment of the joint venture.

In April 2012, Gazprom and NOVATEK signed the Memorandum of Cooperation (valid through 1 February 2013), providing for the possibility to establish a joint venture to increase LNG production capacity on the Yamal Peninsula.

JSC 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 84% of Russia’s natural gas production and approximately 17% 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 MICEX-RTS Stock Exchange and the London Stock Exchange (LSE) under the ticker symbol “NVTK”.