Russian Railways and NOVATEK discuss cooperation under the Strategic
Partnership Agreement
OAO Novatek
RUSSIAN RAILWAYS AND NOVATEK DISCUSS COOPERATION UNDER THE STRATEGIC
PARTNERSHIP AGREEMENT
OAO NOVATEK (“NOVATEK”) announced today that OAO Russian Railways
(Russian Railways) CEO Vladimir Yakunin and NOVATEK CEO Leonid Mikhelson
held a working meeting to discuss the two companies’ cooperation, under
their Strategic Partnership Agreement, relating to the transportation of
liquid hydrocarbons from NOVATEK’s wholly-owned Purovsky Processing
Plant (“Purovsky Plant”).
At the meeting, it was noted that during the 1H 2009, the mutual
cooperation between the companies had a positive and beneficial
influence on both their financial and operational results. In the 1H
2009, NOVATEK increased volumes shipped by Russian Railways from the
Purovsky Plant by 29.5%, as compared to the same period in 2008, while
payments for rail transportation increased by 18.8% compared to the 2008
period.
The two CEO’s noted that the preservation of the current terms of
cooperation would allow the companies to continue the positive growth in
production and rail transport of stable gas condensate and LPG in 2010.
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For further information, please visit www.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 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 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”.
