OREANDA-NEWS. June 27, 2011. NOVATEK (“NOVATEK”) has announced the results of its Extraordinary General Meeting of Shareholders (EGM) held in Moscow today.

The EGM resolved the following agenda items:

Approved the early termination of the authorities of the members of NOVATEK’s Board of Directors;

Approved the election of a new Board of Directors; and

Approved the related party transaction between JSC  NOVATEK and JSC  OGK-1.

JSC  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 over 83% of Russia's natural gas production and 16% 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 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”.