17 Jul 2014 14:21
NOVATEK’S STATEMENT WITH RESPECT TO BEING LISTED ON OFAC’S SECTORAL SANCTION IDENTIFICATION LIST
Moscow, 17 July 2014. In view of the fact that OAO NOVATEK (“NOVATEK” or the “Company”) has been listed on OFAC’s Sectoral Sanctions Identification List (the “List”), the Company hereby issues the following statement:
NOVATEK is a privately listed company not conducitng any business activities in Ukraine, nor does it have any impact on the political and economic processes taking place on its territory. The Company adheres to the world’s best corporate governance and business conduct principles and practices and, since 2005, NOVATEK’s ordinary shares and GDRs have been listed on Russian and international stock exchanges. In accordance with the standards and requirements for public traded companies, we disclose all information regarding our activities and our business operations are transparent for all stakeholders. Including the Company into the List is not justified.
The inclusion on the List does not impede NOVATEK’s operations and business activities in any jurisdiction, nor does it affect the Company’s assets and listed shares. Among NOVATEK’s shareholders there are American citizens and major US investment funds and banks.
NOVATEK’s financial position is stable, and the Company’s cash flows are sufficient to fulfill its key strategic plans, service its existing debt portfolio and make payments according to the Company’s dividend policy.
The implementation of large-scale projects with NOVATEK’s participation will continue as planned. Together with our international partners, the Company will take all necessary measures to secure project financing and implement the LNG project as scheduled.
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For further information, please visit www.novatek.ru or contact:
| Press Service | Investor Relations | ||
| +7 (495) 721 2207 | +7 (495) 730 6013 | ||
| press@novatek.ru | ir@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 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. The Company’s shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol «NVTK».
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