NVTK.L Regulatory News (NVTK)

FOR IMMEDIATE RELEASE

 NOVATEK Reports Preliminary Operating Data for 2020

Moscow, 18 January 2021. PAO NOVATEK ("NOVATEK" and/or the "Company") reported today preliminary operating data for the twelve months ended 31 December 2020.

In 2020, NOVATEK's hydrocarbon production totaled 608.2 million barrels of oil equivalent (boe), including 77.37 billion cubic meters (bcm) of natural gas and 12,237 thousand tons of liquids (gas condensate and crude oil), resulting in an increase in total hydrocarbons produced by 18.3 million boe, or by 3.1% as compared with the twelve months 2019.

Preliminary natural gas volumes sold in the Russian Federation in 2020 were 66.69 bcm, representing an increase of 1.6% as compared with the corresponding volumes in 2019, whereas LNG volumes sold on international markets amounted to 8.93 bcm. The total natural gas sales volumes, including volumes of LNG sold, aggregated 75.62 bcm, representing a decrease of 3.6% as compared with the prior year. The decrease attributable to volumes sold on international markets was mainly due to the decrease of Yamal LNG shareholders' share, including NOVATEK's share, of LNG volumes sold on the spot market, and a corresponding increase in Yamal LNG direct sales under long-term contracts.

The Company processed 11,786 thousand tons of unstable gas condensate at the Purovsky Processing Plant, representing an increase of 9.1% as compared with the corresponding volumes processed in the prior reporting period. NOVATEK further processed 7,007 thousand tons of stable gas condensate at the Ust-Luga Complex, representing an increase of 1.5% in volumes processed at the facility in 2020.

Preliminary 2020 petroleum product sales volumes aggregated 6,774 thousand tons, including 4,293 thousand tons of naphtha, 1,061 thousand tons of jet fuel, and 1,420 thousand tons of fuel oil and gasoil. NOVATEK sold 4,469 thousand tons of crude oil and 2,169 thousand tons of stable gas condensate.

As at 31 December 2020, NOVATEK had 0.8 bcm of natural gas, including LNG, and 623 thousand tons of stable gas condensate and petroleum products in storage or transit and recognized as inventory.

NOVATEK's hydrocarbon productionincluding share in production of joint ventures

Natural Gas Sales Volumes, bcm

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Information provided in this press release presents expected results of PAO NOVATEK operations in 2020. 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 2020. PAO NOVATEK assumes no obligation (and expressly declares that it has no such obligation) to update or change any declarations concerning any future results, 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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PAO NOVATEK is the largest independent natural gas producer in Russia, and in 2017, entered the global LNG market by successfully launching the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. Upstream activities of the Company's subsidiaries and joint ventures are concentrated mainly in the prolific Yamal-Nenets Autonomous Region, which is the world's largest natural gas producing area and accounts for approximately 80% of Russia's natural gas production and approximately 15% of the world's gas production. NOVATEK is a public 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».