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NOVATEK reports preliminary operating data for third quarter and nine months 2009

OAO Novatek

OAO NOVATEK today reported preliminary production data for the third quarter and nine months 2009.

Gross production for the third quarter totaled 7.87 billion cubic meters of natural gas and

741 thousand tons of liquids (gas condensate and crude oil). Natural gas production increased by 229 million cubic meters, or by 3.0%, and gross liquids production increased by 102 thousand tons, or by 16.0%, as compared with the corresponding gross production in the third quarter 2008.

In the first nine months of 2009, gross production for NOVATEK totaled 23.79 billion cubic meters of natural gas and 2.21 million tons of liquids. Natural gas production increased by 968 million cubic meters, or by 4.2%, whereas gross liquids production increased by 336 thousand tons, or by 17.9% as compared with the corresponding gross production in the first nine months of 2008.

In the third quarter and first nine months of 2009, NOVATEK processed 693 and 2,059 thousand tons of unstable gas condensate at the Purovsky Gas Condensate Processing Plant (Purovsky Plant), respectively.

Seven tanker shipments were dispatched for export in the third quarter 2009 as compared to six tanker shipments in the corresponding period 2008. At 30 September 2009, we had 176 thousand tons of stable gas condensate in transit or storage and recognized as inventory until such time as it is delivered to the port of destination.

NOVATEK’s hydrocarbon production

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Information provided in this press release presents expected results of OAO NOVATEK operations in the third quarter and nine months 2009. The information represents preliminary assessment only, which can be adjusted after statistical, financial, fiscal and business reporting becomes available. The information on NOVATEK’s operational results in this press release depends on many external factors and therefore, provided all permanent obligations imposed by the London Stock Exchange listing rules are unconditionally observed, cannot qualify for accuracy and completeness and should not be regarded as an invitation for investment. Therefore, the results and indicators actually achieved may significantly differ from any declared or forecasted operational results in 2009. OАO NOVATEK assumes no obligation (and expressly declares that it has no such obligation) to update or change any declarations concerning any future results, both due to new information obtained, any future events or for any other reasons.

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For further information, please visit www.novatek.ru or contact:

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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”