Update On NOVATEK Buyback Program

ST. PETERSBURG, Russia, July 29, 2013 /PRNewswire/ --OAO NOVATEK ("NOVATEK" and/or the "Company") announces today that pursuant to the Company's buyback program announced on 7 June 2012, during the period from 22 through 26 July 2013, 177,110 ordinary shares (including in a form of Global Depositary Receipts) were purchased on the open market.

OAO NOVATEK is Russia's largest independent gas producer and the second-largest natural gas producer in Russia. Founded in 1994, NOVATEK is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. Its 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 90% 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. NOVATEK's shares and GDRs are listed on MICEX-RTS Stock Exchange in Russia and the London Stock Exchange (LSE), respectively, under the ticker symbol "NVTK".

SOURCE OAO NOVATEK