OREANDA-NEWS. September 9, 2010. NOVATEK (“NOVATEK” and/or the “Company”) announced that the Company has signed the necessary documents for the disposal of its 100% equity interest in NOVATEK-Polymer (NOVATEK-Polymer) to JSC SIBUR Holding (SIBUR). According to the Sales and Purchase Agreement, NOVATEK will initially transfer a 32% equity interest in NOVATEK-Polymer to SIBUR and will transfer the remaining 68% upon approval from the Federal Anti-Monopoly Service.

The disposal of its industrial manufacturing subsidiary is consistent with the Company’s strategy to focus on its core natural gas and gas condensate production and processing activities. NOVATEK-Polymer’s sales account for less than 3% of NOVATEK’s total revenues.

NOVATEK-Polymer is one of the largest Russian and CIS producers of anti-corrosive insulating materials used on underground pipelines and produces more than ten types of polypropylene film and wrap.