NOVATEK reports preliminary operating data for first quarter 2011

In the first quarter 2011, NOVATEK processed 974 thousand tons of unstable gas condensate at the Purovsky Gas Condensate Processing Plant.
The Company’s preliminary stable gas condensate export volumes amounted to 723 thousand tons for the first quarter 2011 as compared to 412 thousand tons in the corresponding period of 2010. At 31 March 2011, we had approximately 49 million cubic meters of natural gas and 282 thousand tons of stable gas condensate in transit or storage and recognized as inventory.
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 is believed to account for approximately 83% of Russia's natural gas production and 16% of the world’s gas production as of 2009. 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), MICEX Stock Exchange 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”.